Monero price analysis: XMR/USD aims at surpassing the intrada high of $271.2

TL; DR Breakdown The Bollinger bands are wide in most of the trading sessions suggesting that the market is more volatile.In the last 24 hours, Monero has been trading in a slightly bullish.The Relative Strength Index is slightly below the 70 mark, implying a strong bull mommentum.  Monero price analysis: General price overview  The price of monero rose towards the end of yesterday’s session, forming a cup and handle pattern as it traded in bullish momentum. The daily Monero price analysis chart began a bearish trend; prices recorded a precipitous drop, sending the price to day’s lows of $257.5. At this point, the bulls provided significant support that allowed the price to rise in a rising wedge, which formed several bullish trend patterns to the intraday highs of $271.2. Bears could not sit and watch the bulls taking the prices further, so they gathered in large numbers creating a pool of energy that facilitated them to push the price downwards. The Bollinger bands are wide in most of the trading sessions suggesting that the market is more volatile. In addition, the prices seem to be approaching the oversold region meaning that bears are taking the wheels from the bulls. The cryptocurrency started trading in the bear market yesterday evening, and the negative trend continued in today’s heat map as most of it is in red with only a few sots of green bars.  Source: Coin360 The most prominent virtual asset BTC...