Monero New Entry Level

Price reached the downtrend line and bounced. We could see a short term downward movement to the uptrend line. Probably this support line will be a reversal zone for a new upward movement. If the market reaches the downtrend line again, we'll have to watch for price action near this important line. It will be a new attempt to pass through this barrier. We can place buy pending orders above the previous swing high. If price can break the downtrend line and moves above this high, we'll get a confirmation for further upward movement. Entry level for long trades should be above 45.50 with stop orders below 41.00 level and the uptrend line. Profit targets can be at 50.00 and 56.00 resistance levels.