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 formed lower highs and found support at $163 to create a descending triangle formation on its 1-hour time frame.
Monero broke to the upside of its descending channel to mark the start of a reversal, with a short-term channel freshly forming.
Monero seems prime for a bounce off its ascending channel support as it broke above a shorter-term descending triangle.
Monero is trading in a descending channel on its 4-hour time frame and is near the top.