Monero is recovering and is now unfolding a fifth-wave of a higher degree wave (v) impulse. We see a possible Elliott wave ending diagonal within a fifth wave, with possible resistance/bearish turn near the 80.0/82.0 region, from where price can start sharply dropping.

A drop below the lower Elliott wave ending diagonal line would be bearish for the cryptocurrency, and would suggest a three-wave reversal, ideally towards the 71.0 zone.

XMRUSD, 1h

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