I wouldn't jump into it just now, although it touched a 618 fib retrace. I think it could go down still a bit more, to find proper support.
This is one of the most risky trades I posted lately. My recommendation is not margin, just hold some XMR
The way XMR price is moving and strong rejection after breaking up, doesn't look very good. It looks like a bit more downside and consolidation. I don't agree with this setup anymore. High risk
After this spike consolidates during next hours.. let's see if XMR is ready for reversal or not. I still consider it high risk.
The price structure is making looks more typical of Forex than Crypto! Fake outs everywhere
BTW... XMR has multiplied x20 its price recently in the last months.. It's very risky to guess the bottom. I'm putting very small amount for 0.015, trusting that holds. But it would be less risky to buy once it test several times the up-trendline