This trading idea is based on a possible price reversal from the support level. RSI is at the oversold zone and it confirms the price reversal. MACD histogram supports upward movement. We should be ready to entry the market if it moves higher. Pending orders for buy can be placed at 331.00 level with stop orders at 285.00 level. Profit targets are 400.00 and 480.00 resistance levels. Based on the daily chart, the market has free space below the current price for further downward movement. Use stop orders and small trade volume. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.
Profit Targets: 400.00 and 480.00
The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Monero.