Hey Traders,

As you can see, the Weekly Candles of XMR (Xonero) reveal a Falling Wedge pattern via the bodies. After a large downtrend, the 0.618 level from the peak to the trough is the most common retracement zone ( AKA the Golden Pocket). The price breakout out of the falling wedge is also set near $400 (based on the first impulse-up move within the pattern). The ABCDE Elliot wave is not that accurate so it is just for show… Tp at $380

Another reason why XMR recently pumped is that an exchange had someone’s balance on paper, not actually in reserves. So someone with a very large amount needed to withdraw so the exchange bought the XMR all at once in order for the person to move it. This was a coordinated move by the Monero community to test the exchange’s reserves which ultimately proved correct.

Safe Trading,

-Pulkanator