Monero [XMR] could post a 10% gain past the $200 mark if these conditions are met..

ambcrypto.com:

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. 

Monero dipped sharply beneath the $180 level a few days ago but was swift to bounce back and reach the $200 mark when Bitcoin rallied from its range lows. At the time of writing, Monero was trading within a range beneath a bear-dominated area on the chart, but a breakout and retest could offer an opportunity to buy XMR.

Source: XMR/USDT on TradingView

Since 12 May, the price has formed a series of higher lows, as highlighted by the ascending trendline. Moreover, it has broken past the $190 mark, and the $200 psychological and technical resistance zone has been tested multiple times in the past week.

When the price slipped beneath the $190 mark a few days ago, it was thought that the price would push toward the $150 level, especially as Bitcoin was trading within a range and weakly bounced from the $28.8k support.

Instead, Bitcoin pushed to the $32k mark, and this push gave some impetus to XMR bulls as well. At the time of writing, the $200 zone (red box) still put up stiff resistance.

Source: XMR/USDT on TradingView

The H1 chart showed a range between the $193.2 to $201.3 level over the past couple of days. This was a short-term consolidation beneath a level of resistance, with a bullish structure over the past two weeks on the same hourly chart. The price has made a candle wick above both the $179.6 and $204.3 levels and also formed higher lows at $156 and $168 too.

Therefore, a trader might want to look to enter long positions, but not immediately because the $200-$205 resistance zone was not yet flipped to a demand zone. Hence, a breakout from the short-term range,