Overall bias on XMRUSD looks bullish: price holds above 200-days EMA, above 50% Fibonacci...
Nonetheless, there is one more test happening right now for the Reverse Head And Shoulders scenario.
The price got back below the 300.0 level and had stopped just above the Neckline zone of the RH&S (Reverse Head And Shoulders) formation.
If Monero crosses this zone downwards, then it will dismiss the reversal scenario and send us into lateral correction or even deeper dive.
Jumping volumes just below the 330.0 level was evidence that traders fixes 100% of profits from their 150.0 level buy's.
Tho, noticeable increases in volumes just above the Neckline could mean that bulls consider this dive as a good chance to buy lows before the beginning of the upward rally.
Nonetheless, there is one more test happening right now for the Reverse Head And Shoulders scenario.
The price got back below the 300.0 level and had stopped just above the Neckline zone of the RH&S (Reverse Head And Shoulders) formation.
If Monero crosses this zone downwards, then it will dismiss the reversal scenario and send us into lateral correction or even deeper dive.
Jumping volumes just below the 330.0 level was evidence that traders fixes 100% of profits from their 150.0 level buy's.
Tho, noticeable increases in volumes just above the Neckline could mean that bulls consider this dive as a good chance to buy lows before the beginning of the upward rally.
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