Monero is currently in a bearish trend against the dollar, however we can see very strong support below $300.
Even though the Monero markets have been very volatile over the last month, it is important to notice that the bulls are not shy to buy any xmr under $300.
It looks like a new base is being set between $280 – $300 and should the bears stay shy of the market we could see momentum picking up in favour of the bulls.
Short term outlook is bearish, there could be buying opportunities between $280 – $320 in the next couple of days.
For those wishing on a safer entry into the market, be patient and wait for the market to consolidate above $350, where we will most likely begin the climb to $400 again.