Monero long-term uptrend continues as price don’t stop producing higher highs and higher lows. In December 2017 XMR/USD reached an all-time high, hitting $510. On the correction down Monero lost 70% to USD, and went as low as $147.
The $147 level was a strong support, that previously was a resistance level. The support was rejected together with the 8/1 Gann Fan trendline and price went up breaking above the downtrend trendline.
Now it seems Monero is getting ready to go higher and perhaps establish a new all-time high around $600, that is 127.2% Fibonacci retracement level. At the same time $510 resistance should be watched, rejection of which could extend the consolidation period.
Source: http://cryptopost.com/monero-next-stop-600/
Telegram channel: https://t.me/cryptopost