technical analysis: MONERO, is in Up trend. The price is now above the 21-Day WEMA which acts as a dynamic support and prevents from more losses.
DAILY RSI is 52 and above a support level. In H4 RSI there is a strong downtrend line and as long as bullish exit is not happened Price will drop more.
Trading suggestion: There is possibility of temporary retracement to suggested support zone (0.0272 to 0.0242), if so, traders can set orders based on Price Action and expect to reach short-term targets.
.Beginning of entry zone (0.0272) . Fibonacci level 23.6 % .Ending of entry zone (0.0242) . Fibonacci level 38.2 %
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: (We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!)
Take Profits: 1. First target is at 0.0320 2. Second target is at 0.0320 3. Without target