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 closest support to the price is at the 324.06 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 nearest resistance level is at the level of the 346.9.
This level was formed by a Pin Bar pattern. This pattern is presented with a single Japanese candle with a small real body and a long upper shadow. This is one of the key patterns in the Price Action system.
Trading recommendations:
The upward dynamics prevail on a longer time period, but the short positions should be prioritized during the day because the latest signal suggests a dominant downward movement.
