Monero seems prime for a bounce off its ascending channel support as it broke above a shorter-term descending triangle.
Monero broke to the upside of its descending channel to mark the start of a reversal, with a short-term channel freshly forming.
Monero is trading in a descending channel on its 4-hour time frame and is near the top.
Monero is edging closer to a long-term area of interest and a break higher could spur stronger gains.
Monero has formed lower highs and higher lows to consolidate inside a symmetrical triangle pattern.
Monero made a bullish break from its descending triangle pattern but might still have a pullback opportunity for more bulls to join in.