Corrects sharply from a six-month high, bullish bias still intact

XMR/USD corrects from fresh half-yearly highs hit on Saturday.
Technical outlook across the time frames favor the bulls.
Coin ditches its other crypto peers, trades in the green.

Monero (XMR), the 14th largest cryptocurrency with the current market capitalization of $ 1.68 billion and an average trading volume of $167 million, is leading the pack of top 20 widely traded cryptocurrencies this Saturday. The coin has gained almost 2% over the last 24 hours, bucking the bearish momentum seen across the crypto space. At the time of writing, XMR/USD trades near the 95.25 region, having hit the highest levels in six months at 96.78 in the last hour.

XMR/USD, 1-hour chart

An ascending triangle breakout was confirmed earlier today, pattern target lies at 100.49.
Hourly Relative Strength Index (RSI) takes a U-turn for just beneath the overbought territory, looking to test the mid-line at 50.0.
Correction from multi-month tops likely to extend in the near-term.
Bullish 21-HMA offers immediate support at 94.50 while the next support awaits at 50-HMA of 93.25.

XMR/USD, daily chart

No. 14 coin portrays a potential rounding bottom formation.
A break above 97.91 needed to validate the pattern, with the target seen at 151.83 over the next six months.
The spot trades above all the key Daily Simple Moving Averages (DMA).
Daily Relative Strength Index (RSI) consolidates in the overbought territory, with further room for upside.
All in all, any corrective downside in a bargain-buying opportunity for the XMR bulls.