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 is taking place as 5 waves impulse structure where cycle degree wave ((1)) ended at $181.19 high, and wave ((2)) pullback ended at $112.23 low. Near-term, while dips remain above $112.23 low expect Monero to extend higher in wave ((3)) approximately towards $305.54- $365.51 area higher before a pullback can take place.
Monero XMRUSD Daily Elliott Wave Chart 2.16.2021
