XMR has been one of the major gainers since we bottomed a couple of weeks ago. During such run-ups, it's often the case that the asset needs to 'cool-off' before it can continue going up (or down, for the matter).
As seen on the chart, XMR is currently trading horizontally for a couple of days. I'm expecting the horizontal pattern to continue for now, but we should be expecting a break out in the near future. A break above $188 would be a nice signal for a bullish break out for example.
Be aware XMR could also break bearish, however this is the lesser likely scenario.
Happy trading!
As seen on the chart, XMR is currently trading horizontally for a couple of days. I'm expecting the horizontal pattern to continue for now, but we should be expecting a break out in the near future. A break above $188 would be a nice signal for a bullish break out for example.
Be aware XMR could also break bearish, however this is the lesser likely scenario.
Happy trading!
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