How is it that one of the most interesting projects in crypto money, Monero (Bitcoin being #1 imo), is valued at less than $1B market cap? Surely it's only a matter of time until Monero's value proposition as a fungible (i.e. traceless & anonymous simultaneously ) is understood and fairly valued by the current wave of newcomers, soon-to-be maturing crypto investors.
The market has broken out the neckline of the short-term double top and is pulling back now.
A good short place is where the 0.618RET and the 2.618REXT converge.
Meanwhile a good Supply Zone also works at this zone.
So it is good to sell at 45.8-47.3 levels when price action gives signals in the PRZ.
SL: above 48.9
TP1: 38.0
TP2: 35.2 and further more
Rumor has it tomorrow Monero will make a significant announcement tomorrow that will be very bullish. Volume is consistent, Price action seems to be insider buying. Looks like it could go much higher. Normally I would examine fundamentals as well, but in this case I do not believe it is the basis for the trade.. expecting 60+
Currently in pennant, 1D ichi not much use but suggests support in $19-$20 range, which coincides with 50% fib of recent pump. Kijun is further support at the top of the embryonic cloud.
Top of channel, bull pennant breakout and fib extension all agree on $35 American Pounds in the medium term.
