XMR/BTC - Previous Resistance Acting as Support

KRAKEN:XMRBTC   Monero / Bitcoin
Quick Idea. "Monerun", or coordinated mass withdrawals, clearly hit exchanges where it hurt. Monero quickly began to outperform the market during the week of the event.

A retrace is expected, although many thought we would surpass $300 before seeing it, hindsight is 20/20 and it's clear this IS the retrace.

This could prove to be a great place to buy in if this previous resistance holds as support. Otherwise, I'd expect a move down to 0.0048.

Considering we were < 0.004 at the beginning of the year, I think this all still within healthy bullish macro behavior and monero will end the year strongly.
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Comment: defended again on the 15/16 of June '22
safe to say 0.0053 is a buy I think

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