Monero Technical Analysis 31 August, 2021

• Monero reversed form resistance area
• Likely to fall support level 250,00

Monero cryptocurrency continues to fall after it reversed down form the resistance area located between the resistance levels 309,00 and 340,00 (which has been reversing the price from the end of May), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward correction (2) from the start of to the end of May. The downward reversal from this resistance area started the active minor ABC correction 2

Monero cryptocurrency can be expected to fall further in the active minor impulse wave (c) toward the next support level 250,00 (which reversed the with the daily Bullish Engulfing candlestick pattern in the middle of August).

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