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 support level is near the 282.14 mark.
This level was formed by the Three Outside Bars Up pattern. The pattern consists of three Japanese candlesticks: the first candlestick has a short black real body, the second candlestick has a long white real body and completely engulfs the first candlestick, and the third candlestick is also white, closing above the second candlestick.
The resistance level is near the 331.14 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:
On the higher time-frame, the upward price dynamics prevail. The last signal on the chart also indicates the upcoming growth. Against this background, it is worth prioritizing the buy signals during the day.
