If you are trading cryptos, you know that a lot of cryptocurrencies are bearish but Monero vs USD could be one that turns the tide. The crypto is currently trading at the support level of a Descending Triangle Pattern at 167.750 and also showing a bullish divergence on the On Balance Volume. The current price action shows indecision at the level with a doji the past three days. Price is trading inside of the doji but furthermore the current price is trading an inside candlestick pattern. Coupled together with the other aspects mentioned, we could see a bounce at this level and price move higher. If price closes outside of the current Mother Bar then this could be confirmation that price may bounce and we can enter the trade long.
Learn more about trading cryptos in our one week live crypto course where I will be teaching you how to trade cryptocurrencies using Ichimoku, price action, support and resistance and fractals. You can have your questions answered live during the session. This session was scheduled for Monday, May 28th but has been re-scheduled for Monday June 4th due to the Memorial Holiday this Monday.
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