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theCrypster
Jan 20, 2023 9:30 AM

XMRUSD - Rejected by Upper Edge of Symmetrical Triangle Short

Monero / U. S. DollarKraken

Description

Monero looks to be trapped inside this symmetrical triangle which has formed after another rejection when trying to break through the upper bounds. There's a nice parallel channel formed for the price to fall back into but it may need a little wiggle romm first based on historical S/R levels.

We can see the price reaching the lower edge of the aforementioned triangle but it may take a few days or even weeks, somewhere between 15-20% profit could be expected from this Sell signal from Crypto Tipster v2.

Comment

We've gone ahead and hit the upper bound of the descending trend line - now time for a rejection down to $160-$162?
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