Monero’s price is still in a downtrend in the first week of March, as it has been for the last month. The price is currently sitting at $149.6 as of the time of writing.
Support in dark green and Resistance in red. In the last few days, we have sharply recovered from the $10 drop on March 3rd as seen in light green. The speedy recovery gives me some hope to break this falling pattern sooner rather than later.
Now I would like to show you guys some key trends that have held up for a year plus.
The line in blue is what I personally refer to as the FOAT (Father of all trend lines) It has marked an uptrend for almost a year now and going still holding strong. As of March 5th, the FOAT sits at $130.
The white line I refer to as the MOAT (Mother of all trend lines) It has been holding strong since early 2020 and as of March 5th the MOAT sits at $119.5.
Monero’s Short-Term Price Movement Key Levels sit at 151 & 146 respectively. If we breach 151, I expect more rising and a fall below 146 I would anticipate us getting down to our support level that was established in June of last year.
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