The near-term view is suggesting that the bigger correction against the all-time low unfolded as a double three structure where wave w ended at $36.28 low, wave x bounce ended at $132.41 high. While wave y ended at $24.59 low and with that the correction against all-time lows ended in wave (II) pullback. Up from there, rally higher took place as 5 waves impulse structure where cycle degree wave I ended at $106.32 high, and wave II pullback ended at $73.62 low. Near-term, while dips remain above $121.21 low and more importantly above $106.70 low expect Monero to extend higher in wave III.
Monero XMRUSD 12 Hour Elliott Wave Chart 1.20.2020
