DannyForest

XMR Elliott Wave TA

BITFINEX:XMRUSD   Monero
XMR has been broadly following Elliot wave theory, with the sub-waves matching into the Elliott wave pattern of the larger waves. I am expecting to see a retracement, shortly to about 278 USD, before an impulsive 3 leg to the Fib 1.618 level of 879 USD. Expecting major resistance at the previous high of about 475 USD. Towards the end of the year the full impulsive wave 3 is expected to reach around 1335 USD or the 5.618 level before the 4th major leg another retracement and the 5th wave impulse.

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