If you have been following me for a while, you'll know I've been saying we are trading in the opening moments of a new bullish cycle. I've also referred to this as Elliot Wave Theory Wave 1.
Monero / XMR is an altcoin that still has massive upside potential for the coming bull season. But when analyzing Monero, I came across something rather interesting or strange; unique to the XMR chart - the candles follow a perfect quadruplet set of diagonal support lines!
Usually, and you may be more familiar with this, you will see horizontal support zones, for example:
But on the XMR chart, the trendlines of both support and resistance are diagonal, rather than predominantly horizontal like most other charts. After finally identifying this interesting trend, we can now readily set buy/sell zones. For example:
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Strong V-shaped recovery in the 4h. I expect the price will push out above resistance soon:
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$184 seems likely for XMR:
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XMR update: After Binance announcement to delist: Binance, one of the world's largest cryptocurrency exchanges, announced on Tuesday that it will delist four tokens from its platform due to their 'failure to meet its high level of standards'. But is this true, or is it because the tokens refuse to compromise on their privacy, being PRIVACY tokens and perhaps refuse to comply with KYC?
Clearly, buyers were ready to sweep up lower prices and people are judging Binance integrity harder than XMR for this act: