During the previous trading session, the price of Monero decreased, moving in the main trend direction on the higher time-frame.
The support and resistance levels:
The closest support to the price is at the 398.23 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 level is at the level of the 408.86.
This level was formed by the Three Inside Down pattern. This pattern consists of three Japanese candles: the first candle has a short black real body, the second candle also has a black real body and is completely inside the body of the first candle, and the third candle is also black and closes below the body of the second candle.
Trading recommendations:
The latest pattern formed on the chart prioritizes short positions. This signal is also proved with the price movement dynamics on the higher time-frame.
