Monero Technical Analysis 20 December, 2021

• Monero reversed from support level 180.00
• Likely to rise to resistance level 200.00

Monero cryptocurrency recently reversed up from the key support level 180.00 (which has been reversing the pair from the end of June, as can be seen from the daily Monero chart below) – standing near the lower daily Bollinger Band. The upward reversal from the support level 180.00 stopped the previous short-term impulse waves iii and (v).

Given the strength of the support level 180.00, improved risk sentiment as seen across the cryptocurrency markets today, Monero cryptocurrency can be expected to rise further toward the next round resistance level 200.00 (which reversed the price twice earlier this month).

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