As you can see, the Weekly Candles of XMR (Xonero) reveal a Falling Wedge pattern via the bodies. After a large downtrend, the 0.618 level from the peak to the trough is the most common retracement zone (AKA the Golden Pocket). The price breakout out of the falling wedge is also set near $400 (based on the first impulse-up move within the pattern). The ABCDE Elliot wave is not that accurate so it is just for show... Tp at $380
Another reason why XMR recently pumped is that an exchange had someone's balance on paper, not actually in reserves. So someone with a very large amount needed to withdraw so the exchange bought the XMR all at once in order for the person to move it. This was a coordinated move by the Monero community to test the exchange's reserves which ultimately proved correct.
Withdrawn moneros will no longer return to the exchange 🤔
Pulkanatir
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@Nakkivasara, Which is good, means less shorting too
Remdog420
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@Pulkanatir, going so much higher, 3k PT by 2024 if not sooner. We are finally seeing momentum in privacy coins and XMR, ZEC top that list, each with a long track records, each their own unique value props and both will shine as $ flows to privacy. XMR and ZEC both have upgrades on tap, HALO for ZEC and XMR later this Summer, major catalyst that will drive break-outs.
Pulkanatir
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@Remdog420, Lmao wanna bet? It won't be 3k by 2024 you moon boy
Pulkanatir
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@Remdog420, ZEC is horrible for private transactions. Their shields have been able to be cracked before. Only use XMR. Also, keep in mind XMR is not on a lot of exchanges due to regulatory pressure. So retail buying is slower than usual.
Pulkanatir
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@Remdog420, Do you honestly think XMR will maintain its market dominance or even increase? Fundamentally, there has to be an event where there is more unfaith in the financial system in terms of worrying about privacy.