Monero ‘falling wedge’ breakout positions XMR price for 75% rally

2022.04.25 15:16

Monero ‘falling wedge’ breakout positions XMR price for 75% rally

Monero (XMR) price dropped by nearly 10% three days after establishing a week-to-date high of around $290 on April 24. Nonetheless, several technical indicators suggest that the XMR/USD pair is poised to resume its uptrend over the next few months.

Notably, XMR’s price broke out of its “falling wedge” structure in late March. It continued its move upside in the later daily sessions, with rising volumes indicating bullish sentiment among Monero traders.

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