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Monero Forecast – Jump In Now To Take 30% Profit?



 Monero price remains inside the wedge, so we expect the price to rally to the upper trendline next. This would cause a price increase of about 30%. The target of the next upside is around $140. Once the price reaches the upper trendline, an explosive breakout could occur at any time. It depends on which trendline breaks first. If the lower one breaks, we would expect a bearish breakout. However, this scenario is rather unlikely, which is why we would not bet on it. If Monero price breaks the upper trendline, which is more likely, a bullish breakout would occur.

As the Monero price is more likely to bullishly break out of the wedge, we expect it to target the next major resistance. This is located at around $185. While this is not the formation goal, it should be approached with caution. The general crypto market is currently in a deep bear market, which is why actual price targets cannot be achieved due to the high selling pressure.

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