MARKET VIP UPDATE: $XMR
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$XMR reacted cleanly from the lower boundary of the descending channel, near the $290–$300 region, and is now reacting around the former upper trend line, close to $330–$340.
This upper trend line, which acted as resistance for weeks, is now being tested as support. Staying above $330 keeps the recovery structure intact and opens up space for an advance towards $355–$370.
A loss of the $325–$330 range would likely push XMR back inside the channel and weaken the current recovery.
➖➖➖➖➖➖➖
$XMR reacted cleanly from the lower boundary of the descending channel, near the $290–$300 region, and is now reacting around the former upper trend line, close to $330–$340.
This upper trend line, which acted as resistance for weeks, is now being tested as support. Staying above $330 keeps the recovery structure intact and opens up space for an advance towards $355–$370.
A loss of the $325–$330 range would likely push XMR back inside the channel and weaken the current recovery.