31 Aug 2021 [blitz]

Monero Observer Blitz - August 2021

This month, the Monero community has been real busy. Here’s what happened (in 5 minutes):

Price/pattern: XMR/USD opened at ~$240 (Kraken) on August 1st and rose all the way up to ~$339 to form a top; closed around $285 (+18.8%) on the last day of the month; overall we printed a bullish engulfing candle in August, but the bears managed to form a rather large wick to the upside by rejecting the top;

Bearish scenario: if it breaks down in September, we can expect to see a reaction at the $225-$250 levels; further down $175-180 is a good zone to look for stronger support;

Bullish scenario: if we break $340, then the $518 ATH will be the next big target.

That’s it for the 1st Monero Observer Blitz.

You can find reference links for everything mentioned above on the site.

Obviously, a lot of stuff is missing as it is virtually impossible to include every single thing that happened this past month. Furthermore, please remember that the Monero Observer was only born recently, it’s still a baby.

I just hope this was helpful to you. Thanks for reading and make sure you are extra vigilent on that boating trip next month!


PS: I <3 all feedback @ /about