XMR/USD is overbought.

Monero is in a bearish channel as it has lower lows and lower highs one after another.
It bounced upwards from $77 and reached a high of $130. So one could make 80% profit right there.

In my opinion it has not reached the bottom just yet. It has broken through that Falling Wedge formation, which was bullish from the beggining, but that breakout was not a major one.

I'm anticipating it to go as low as $60 (coz bearish market and 88% correction is accurate in over 95% of coins).

It probably will have a bounce at $82 mark (nice support line), then it will go lower.

As it has a quite high RSI (crossed 70) it probably starting its downfall.

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