The price of Monero ($) has fallen as all the main coins / tokens did. The last low was at 190$ - within a zone between the fib retracement 23.6% and a swing trend line.
This negative movement built a descending trend channel - and this channel has been broken to the top yesterday.
So now we´re in a new movement upwards. The new trend has been confirmed by the RSI - crossing the negative trend line.
As prediction I have drawn a 12345 motive wave - guided by an ascending trend channel. The turning points are on swing trend lines or fib retracements - also I took in mind the last turning points.
This positive move is still under the long falling trend line (red) and to generate more positive impulse the price of Monero should break this resistance. Perhaps it´ll do it with this move - depending on the momentum. The maxim aim in the first rallye could be the fib retracement 61.8% at 327$ - a far way from today.
Stop:
If Monero falls back into the negative trend channel and / or below 208$ - swing trend line.
This negative movement built a descending trend channel - and this channel has been broken to the top yesterday.
So now we´re in a new movement upwards. The new trend has been confirmed by the RSI - crossing the negative trend line.
As prediction I have drawn a 12345 motive wave - guided by an ascending trend channel. The turning points are on swing trend lines or fib retracements - also I took in mind the last turning points.
This positive move is still under the long falling trend line (red) and to generate more positive impulse the price of Monero should break this resistance. Perhaps it´ll do it with this move - depending on the momentum. The maxim aim in the first rallye could be the fib retracement 61.8% at 327$ - a far way from today.
Stop:
If Monero falls back into the negative trend channel and / or below 208$ - swing trend line.