π Since #XMRUSDT's bounce and rejection of the 78.6% Fibonacci support, coupled with the uptrend trendline, we're seeing the price gravitate towards that trendline once more. This suggests that buying pressure could be ramping up, opening the door to a significant upside potential.
π However, this bullish scenario will hold water only if the $130 psychological and technical support level remains unbreached. If this condition is met, we could be looking at a nearly 80% price increase, with #Monero potentially setting its sights on the double Fibonacci resistance at $258.
π Our ParadiseClub members should also keep an eye on the nearest resistance at $196, where the 23.6% Fibs intersects with the downtrend trendline.
π While less likely, we must also consider the scenario where OMXSTO:XMR breaks below the $130 level. Such a move would be a major red flag for the bulls.