Monero (XMR): Clear Path for Strong Surges Ahead

Monero (XMR): XMRUSD

Monero (XMR), like many other cryptocurrencies, experienced significant sell-offs but hasn't recovered as robustly as others. This lagging behavior presents an opportunity to capitalize on potential faster and more favorable entry points. Currently, it is believed that Monero might still be at the end of a Wave 2, which could be advantageous as it allows for potential entry points into the market.
Underlyingly, we are in a subordinate Wave 3, expected to reach between $250 and a maximum of $431.

Zooming in, after completing Wave 2 at $101, we've developed Waves (i) and (ii), and are now attempting to complete Wave (iii). This wave is anticipated to reach at least $164, extending up to $233. Following this, we aim to seek initial entries for a possible Wave (iv), aiming to reach at least $250.

Comment:

Monero #XMRUSD
For Monero (XMR), not much has changed since our last analysis. We anticipate that we are still in an uptrend leading to the subordinate Wave (iii). This wave should reach at least the 161.8% level, and potentially up to the 361.8% level, as previously mentioned. We'll then be looking for entry points at Wave (iv). However, we believe the high of Wave B at 180.70$ will be a challenging level to surpass. Therefore, we think that we'll complete Wave (iii) before reaching this point and then look for a short-term entry for Wave (iv). We stay patient and we are waiting for the next opportunities

Comment:

For Monero (XMR), we anticipate that we are still in an uptrend leading to the subordinate Wave (iii). This wave should reach at least the 161.8% level, and potentially up to the 361.8% level, as previously mentioned. We'll then be looking for entry points at Wave (iv). However, we believe the high of Wave B at 180.70$ will be a challenging level to surpass. Therefore, we think that we'll complete Wave (iii) before reaching this point and then look for a short-term entry for Wave (iv). We stay patient and we are waiting for the next opportunities.

Comment:

At the moment, Monero (XMR) is looking quite positive. We may have completed the subordinate Wave (2) and believe that we are now in a subordinate Wave (3) of Wave (iii). Even though it doesn't move as fast as other cryptos we see Monero as very interesting with some opportunities in the future.