Monero (XMR), the highest market cap privacy coin (currently #12 on total market cap list), has formed a large descending triangle pattern since peaking near $500 in December:
I believe the ultimate resolution of this descending triangle will have huge implications for the cryptocurrency sector as a whole; a breakout above $300 will target new all-time highs above $500, whereas a breakdown below major support at $160 would send Monero crashing down towards zero.
I expect this chart pattern to resolve before the end of the month, which means that crypto traders/investors should pay close attention to this chart. I own Monero and I am betting on an upside breakout within the next couple of months.
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