After reaching the goal of $300, Monero has already corrected to $265, which coincides with the 0.236 value of the Fibonacci grid, but we believe that this is far from being the limit. With a high degree of probability, this first stage of decline will be followed by a return to the lower register of the ascending channel and correction to at least $245.
At this level, we expect a surge in buyer activity, but pressure from the falling Bitcoin can erase all efforts to protect long-term positions. In that case, the pain limit for investors at the moment is located at the value of $230, which coincides with a powerful mirror level of support-resistance. A deeper correction will undo all previous successes of buyers and greatly damage the reputation of the asset.
Check the full crypto analysis HERE
At this level, we expect a surge in buyer activity, but pressure from the falling Bitcoin can erase all efforts to protect long-term positions. In that case, the pain limit for investors at the moment is located at the value of $230, which coincides with a powerful mirror level of support-resistance. A deeper correction will undo all previous successes of buyers and greatly damage the reputation of the asset.
Check the full crypto analysis HERE
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