During the previous trading session, Monero demonstrated downward dynamics. On a longer time-frame, the upward trend still prevails.
The support and resistance levels:
The nearest support is set at the 369.63 mark.
This level was formed by the Three Inside Up pattern. This pattern consists of three Japanese candles: the first candle has a short white real body, the second candle has a white real body and is completely inside the body of the first candle, and the third candle is also white and closes above the body of the second candle.
The nearest resistance is set at the 402.78 mark.
The Bearish Engulfing pattern formed this level. It consists of two Japanese candles: the first candle is located inside the body of the second candle.
Trading recommendations:
The latest signal prioritizes short positions intraday.
