Monero price analysis: XMR/USD decent gains resumed, as bulls look to complete the large bull flag with a breakout
|- Monero price is up 3.5% on Friday, as the bulls look to make a break for the bull flag pattern.
- Should the bulls break down resistance at $200, next upside target can be seen at $250, support tracks at $160.
The Monero price is seen up some 3.5% on Friday, as the price builds further on its path to recovery, on a three-consecutive session of gains. Some life was kicked back into the bulls when the price received support at $160.
Since November of last year, the price action has been forming a bullish flag pattern, through its major ups and downs encountered this year so far. The upside trend line is seen at $322, there price is just some 60% away from testing this resistance.
Momentum is within the bull’s court, the price failed to firmly break back above the psychological $200 mark, where some resistance tracks. Should the bulls move pick up pace, next upside target should be seen at $250. Support as mentioned tracking at $160.
XMR/USD daily chart
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