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#CryptoObservers #XMRUSD
Monero, despite bearish patterns and frequent pullbacks, is confidently moving upwards. Since the last post, it managed to rise first to $235.45, then pulled back to $196.18, after which a new high was set at $242.63. The general pullback brought the price to the 38.2% Fibonacci, but the price did not linger at the bottom and quickly returned to $221, with a long lower shadow forming. After the consolidation ends, the price will move towards $280.
Third-party analysts: If the current trend continues, XMR could rise to $289.11, the highest level it reached in April 2022. Coinglass data shows that traders in the futures market prefer long positions. The Long/Short ratio is 1.05, indicating a predominance of buyers over sellers. When this indicator is above 1, it means that more traders expect the price to rise rather than fall.