XMR/USD still in danger of further declines

XMR/USD still in danger of further declines

The attack on Mac’s “mshelper’ mines Monero by “gobbling up CPU time like Cookie Monster.”

Monero price down 2.62% on the day, it’s likely that the declines will continue.

Monero price is still making lower corrections on Friday while the charts show that it is down over 2.62% on the day. The immediate resistance is at $170, besides the gap between the moving averages is increasing, showing that the sellers have the upper hand. Similarly, the 50 SMA is a major hurdle and is way below the 200 SMA signalling that the price is likely to continue correcting lower as opposed to moving upwards."XMR/USD still in danger of further declines"

Monero is becoming a common target for mining attacks on websites and other devices. The latest is an attack on Mac process called “mshelper”. The malicious attack mines Monero using CPU power and various malware processes. The director of Malwarebytes at Mac, Thomas Reed wrote in an announcement:

“Affected users saw their fans whirring out of control and a process named ‘mshelper’ gobbling up CPU time like Cookie Monster. Fortunately, this malware is not very sophisticated and is easy to remove,”

In the meantime, Monero price is battling to shake off the bear pressure although it is locked within the confines of a descending channel. The descending trend line coincides with the 50 SMA to offer resistance to the upside around $185. The RSI is at the 36 mark and is ranging to signal that the buyers still have some momentum left to push for higher corrections, besides the Stochastic is around the middle ground (50 mark). XMR/USD is supported at $160 but is trading at $167 at the time of press.

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