Monero cryptocurrency can be expected to rise further toward the next resistance level 170.00.
– Monero broke resistance area
– Likely to rise to resistance level 170.00
Monero cryptocurrency recently broke through the resistance area located between the pivotal resistance level 158.65 (which stopped the previous short-term impulse wav i at the start of this month, as can be seen from the daily Monero chart below) and the 61.8% Fibonacci correction of the downward ABC correction 2 from the end of July. The breakout of this resistance area accelerated the active short-term impulse wave iii of the sum-impulse 3 of the intermediate impulse wave (3) from the start of July.
Given the clear daily uptrend the improvements in Monero sentiment that can be seen across the cryptocurrency markets today, Monero cryptocurrency can be expected to rise further toward the next resistance level 170.00 (which stopped the previous waves B and 1).
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