{"id":125347,"date":"2023-07-21T03:35:21","date_gmt":"2023-07-21T03:35:21","guid":{"rendered":"https:\/\/dripp.zone\/news\/bears-flirt-with-symmetrical-triangle-support-near-the-82-00-mark-crypto-news\/"},"modified":"2023-07-21T03:35:23","modified_gmt":"2023-07-21T03:35:23","slug":"bears-flirt-with-symmetrical-triangle-support-near-the-82-00-mark-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bears-flirt-with-symmetrical-triangle-support-near-the-82-00-mark-crypto-news\/","title":{"rendered":"Bears flirt with symmetrical triangle support near the 82.00 mark\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>USD\/INR meets with a fresh supply near the 200-day SMA barrier on Friday.<\/strong><\/li>\n<li><strong>The technical setup favors bears and supports prospects for further losses.<\/strong><\/li>\n<li><strong>A move beyond the symmetrical triangle is needed to negate the negative bias.<\/strong><\/li>\n<\/ul>\n<p>The USD\/INR pair struggles to capitalize on the overnight bounce from the 81.90 area, or over a two-week low and attracts fresh selling near a technically significant 200-day Simple Moving Average (SMA) on Friday.  Spot prices slide back closer to the 82.00 mark during the Asian session and currently trade near the lower end of a familiar range held over the past week or so.<\/p>\n<p>From a technical perspective, the recent repeated failures near the very important 200-day SMA favor bearish traders and support prospects for some meaningful downside.  Furthermore, oscillators on the daily chart have again started gaining negative traction and<br \/>suggest that the path of least resistance for the USD\/INR pair is to the downside.  That said, it would still be prudent to wait for a sustained breakdown through the lower end of a symmetrical triangle, extending from October 2022, before positioning for any further losses.<\/p>\n<p>Some follow-through selling below the monthly low, around the 81.75 region, will reaffirm the bearish outlook and drag the USD\/INR pair towards the next relevant support near the 81.50 zone.  Spot prices could eventually drop to test sub-81.00 levels or the YTD low touched in January.<\/p>\n<p>On the flip side, the 82.15-82.20 area, or the 200-day SMA, might continue to act as an immediate strong barrier.  A sustained move beyond has the potential to lift the USD\/INR pair back to the triangle resistance, currently around the 82.80 area, above which bulls could make a fresh attempt to conquer the 83.00 round figure.  The said handle has been acting as a strong barrier since the beginning of this year.<\/p>\n<p>Hence, a convincing breakthrough will be seen as a fresh trigger for bullish traders and set the stage for an extension of the USD\/INR pair&#8217;s well-established uptrend witnessed since August 2022. Spot prices might then surpass the all-time peak, around the 83.40-83.45 region touched in October 2022, and aim to reclaim the 84.00 mark.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/INR daily chart<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/USD_INR (2)-638255069854148076.png\"><\/a><\/p>\n<h3 class=\"fxs_headline_medium\">Key levels to watch<\/h3>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: USD\/INR meets with a fresh supply near the 200-day SMA barrier on Friday. The technical setup favors bears and supports prospects for further losses. A move beyond the symmetrical triangle is needed to negate the negative bias. The USD\/INR pair struggles to capitalize on the overnight bounce from the 81.90 area, or over a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":12921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,255,250,252,247,253,249,308,1109,256,254],"class_list":["post-125347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-usdinr","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=125347"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125347\/revisions"}],"predecessor-version":[{"id":125348,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125347\/revisions\/125348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/12921"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=125347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=125347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=125347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}