Yesterday's forecast for Monero was exactly on point, and the bulls’ target of $220 was executed with high accuracy. However, even we underestimated the amount of capital that flowed into the asset after leaving the long-term descending channel. Thanks to the strong support of investors, on Wednesday the price went up to $230, where it remains now.
On the way, Monero broke through the ascending channel, and now, to build its extension, it will take a bit more time and data.
The asset continues to look better than the market, the perspective goal is at $260, where the bulls will certainly meet with a rebuff.
It is quite likely that before continuing the climb, investors will be obliged to take a little break - the range $220 - $ 230 is perfectly suitable for this purpose.
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