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Monero course forecast – after 75% descent now an ascent?



 In the last bull run, the so-called privacy coins performed very poorly. Privacy coins have provided anonymity in the past. However, this anonymity has already been realized with DeFi. Because of this, cryptocurrencies like Monero have lost their importance in the market. But how does the Monero course look in terms of charts? We will explain to you today about the chart of the Monero course!


The Monero price is currently at a support that served as resistance in 2017-2018. If we break this support, the price could lose around $100. The next support is around $40. There, the Monero course had also found the bottom of the bear market in 2019. Since this analysis is done on the monthly chart, such a descent could take several months, which is why one should not be bearish on the Monero price in the next few weeks.


The Monero course was able to form the same high in 2017 and 2021, which is why a double top formation is created. This formation is often the reason for falling prices. Furthermore, this is used for a trend reversal. Since the overall trend on the monthly chart was an uptrend, a downtrend may now be in the offing. As a result, it could crash below $40. There is also a possibility that the Monero price is in a major sideways phase between $40 and $460.

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