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  • Monero biggest gainer of the day, channel formation visible.
  • IMF says Blockhain is a revolutionary technology.

Monero has started rising in a channel like formation which also has properties of a rising wedge which can potentially be a bearish signal once broken down of the formation, although it is still early to call for one.

XMR/USD is up more than 3 percent on day at $168.645 after hitting a low of $162.2851. On the 15-minute chart, XMR is in the process of forming a parallel channel which also has all the properties of a rising wedge, which once confirmed, would result in prices breaking down and can take Monero down to where it began from – around $160.

Global financial oversight body, International Monetary Fund (IMF), in its research note had all the praises for Blockchain technology and said Blockchain is a revolutionary technology and will make financial transactions more secured and faster.

XMR/USD 15-minute chart: