Monero (XMR) prices on XMR/BTC and XMR/USD still trading within the ascending pennant. But the sentiment is still bear bias but slowing down momentum could make way for a potential rally.
XMR/BTC is on the early recovery from the recent January 5 meltdown. Currently settling on 12.174996 on the upper level of the trending pattern. Going forward, it still look for more cue from the greenback propensity. Meanwhile, i am more positive on XMR/BTC pair. It is currently hovering on the near bottom of the pennant channel at 0.012962. A potential firm support zone at 0.012026, exactly 0.5 Fibonacci retracement could hold. Whereas, the 0.236 Fibonacci retracement at 0.016963btc price would be a major challenge for any reversal upswing. Given the current cryptocoins hype and the stability of Monero ecology development, the long term fundamental is overall positive.
Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.