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 current support level is in the area of 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 current resistance level is at 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:
The latest signal on the chart indicates the prevalence of the long positions. This signal is valid, until the other pattern is formed.
