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Monero (XMR/USD) eyeing 85.0 resistance - Elliott wave analysis

Monero (XMR/USD) eyeing 85.0 resistance - Elliott wave analysis
Gregor HorvatGregor HorvatWavetraders

Monero (XMRUSD) is higher, but just like BTC and ETH it can also face limited gains since we noticed a rise out of wave »iv« triangle at 61.6 level. Possible resistance can be at 85.0 level, however before price starts reversing into a three-wave, bearish move, we still need to see five sub-waves. At the moment, sub-wave (iv) of five can be unfolding its corrective move.

XMR/USD, 4h

Monero

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Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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