Monero Struggles

Once again, Monero’s chart reminds us of Litecoin- the main conclusion here is the same: bulls have not yet managed to form an ascending channel. At the same time, we see periodic bursts of purchases, not accompanied by strong subsequent fallbacks, which may indicate that big players are entering long positions.

A slight correction to the level of $190 completely fits into the logic of continued growth, but it’s best not to let sellers go lower- in that case, the lateral trading figure will be broken.

On the other hand, for a strong price increase, there are two obstacles- the boundary of a long-term descending channel and a zone of strong resistance at $208-$220. At the moment, Monero is at a crossroads, and we recommend that readers avoid hasty investment decisions.

Check the full crypto analysis HERE