Situation here is negative. Most recently, the MONA created a descending triangle pattern (blue horizontal support and black dynamic resistance). In line with the expectations, the price broke the lower line of this pattern and went lower. Yesterday, MONA was one of the best altcoins on the crypto market, which can be seen in a bullish reversal aiming the lower line of the triangle. That is a typical movement for the price action – broken support is tested as a resistance. Test was positive for the sellers and the price bounced from the blue area.
Friday starts below the blue resistance, which is a negative factor and thanks to this, the price should continue the downswing. Sell signal will be cancelled, when the price will break the black line, which for now is less likely to happen.