Monero closes the last trading session in the green zone, while the downward price movement vector prevails on the higher time-frame.
The support and resistance levels:
The nearest support is set at the 322.27 mark.
This level was formed by the Bullish Engulfing pattern. The pattern consists of two candles: the first one is inside the body of the second one, which is much larger. The second candle completely engulfs the first one.
The nearest resistance is set at the 351.97 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:
Despite the downward dynamics prevail on a higher time-frame, the long position should be prioritized intraday. The latest signal on the chart indicates the prevalence of the upward movement intraday.
