After reaching the goal of $300, Monero has already corrected to $265, which coincides with the 0.236 value of the Fibonacci grid, but we believe that this is far from being the limit. With a high degree of probability, this first stage of decline will be followed by a return to the lower register of the ascending channel and correction to at least $245.
At this level, we expect a surge in buyer activity, but pressure from the falling Bitcoin can erase all efforts to protect long-term positions. In that case, the pain limit for investors at the moment is located at the value of $230, which coincides with a powerful mirror level of support-resistance. A deeper correction will undo all previous successes of buyers and greatly damage the reputation of the asset.
Check the full crypto analysis HERE
At this level, we expect a surge in buyer activity, but pressure from the falling Bitcoin can erase all efforts to protect long-term positions. In that case, the pain limit for investors at the moment is located at the value of $230, which coincides with a powerful mirror level of support-resistance. A deeper correction will undo all previous successes of buyers and greatly damage the reputation of the asset.
Check the full crypto analysis HERE
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.