Long

Monero: Clear Double Zig-Zag Corrrection Looks Completed

Updated

Monero declined from 155 to 62 and lost exactly 60%! This is interesting sign, but to be more confident, 62 is really nice psychological support because wave (I) resistance became wave (IV) support. There is one more and the most important sign! We see a clear double zig-zag correction, which means that correction could be completed and we could expect Monero back to bullish trend. Keep in mind that bulls will be confirmed, when we see a broken channel resistance line.

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Comment

Monero made nice double zig-zag correction and finally found support @ 61.8%.. now up to 120?

Comment

Monero @116! 24% in 3 days .. it is close to 120 now, be careful around 61,8% Fibo. level..

Comment

Monero hit 120 and also broke above! Because of so sharp and impulsive leg up, with broken 61,8% Fibo. level, we assume that Monero is in 3rd wave of 5th now and has room for new highs above 155 level, maybe even 200!

ew-forecast

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