MONERO (XMR/USD) Waited The Opportunity & It Got This!

Monero' looks a little bit suspicious and looks like it waits a moment and opportunity to break upwards from the triangle.

Currently, it has been several attempts to break through the counter trendline but it has held the price nicely. Slowly, XMR' move into the triangle tip to explode and if the Bitcoin' makes a move upwards and it breaks the trendline then definitely Monero has waited the perfect moment to do the same. At the moment it trades above the 200 EMA on the four-hour chart.

The counter trendline and the 200 EMA makes together a strong support area below the current price. So, the only way that we could see a Monero' coming down is then if the BTC' can't break that resistance and it starts to come down, a candle close around $6,450 then we can say that Monero comes down also but currently, doesn't looks like that.

If we get a breakout from the upper trendline then there are marked two target areas at $128 and $140. Those are the recently worked resistances and we would recommend to take out some profits in this area because around $150 is just a hell! There are multiple monthly supports and resistances that You never want to be on the Monero if we reach into this area. The bounce downwards could be probably massive if the scenarios matching each other.


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