Monero Trading Idea

The price bounced from SMA50. RSI confirmed price reversal and MACD histogram supports upward movement. We have trading opportunity and we could open long trades based on reversal signal. But the price can't pass through 100.00 resistance level. It will be better to place pending orders for buy above this resistance level and the downtrend line. Estimated entry level should be at 110.00 with stop at 70.00 level. Profit target will be at 144.00 level. If the market can break the downtrend line, it will be a good confirmation of further upward movement.