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#TopContentChallenge #XMRUSD
Despite a significant drop down to almost 61.8% Fibonacci (at that time the level was slightly lower), the bulls managed to turn the price upwards and even set a new nearest high at $230.57. The shooting star prevented further upward movement, and even a "Head and Shoulders" pattern appeared. The bullish hammer delayed the pattern's completion, however, a bearish engulfing pattern emerged and the price is heading downwards. Nevertheless, the correction is unlikely to exceed 23.6% Fibonacci.
The reason for the earlier growth can be attributed to the appearance on the show of the entrepreneur Roger Ver, who highlighted the unique role of such coins as XMR and ZANO in the developing world of cryptocurrencies.