$XMR looks solid on the weekly timeframe, reclaiming the neckline of a clear W-reversal pattern with strong momentum behind the move. The recent strength across privacy coins, especially $ZEC, is also helping add momentum to $XMR. A sustained move above the neckline would further strengthen the bullish structure and confirm the breakout.
As long as $XMR continues to hold above the neckline, I would expect the upside to remain open. The next major targets sits around the $570 & $700 area, which would be a significant move from the current levels. Losing the neckline would weaken the setup, but for now, $XMR looks well-positioned for another leg higher.
As long as $XMR continues to hold above the neckline, I would expect the upside to remain open. The next major targets sits around the $570 & $700 area, which would be a significant move from the current levels. Losing the neckline would weaken the setup, but for now, $XMR looks well-positioned for another leg higher.
