Monero KRAKEN:XMRUSD continues to outperform the other major cryptocurrencies through this crypto bear market cycle. Last week Monero entered a bullish trend when both price and Momentum (Lagging Span/Chikou) closed above the Daily Ichimoku cloud. This is the confirmation of a new bull trend starting. Momentum has since gotten back inside the cloud but over the weekend Price held the key Level of 139. 139 was the 50% Retracement Resistance of the FTX debacle crash. Price broke the Resistance on November 30th and then came back to retest the level solidly on December 17th now as Support.
Furthermore, let's look at Monero's performance relative to others.
Measured by the "pre-FTX high" Monero is down -10.37%:
Bitcoin remains down -22.48%:
Ethereum remains down -29.89%:
"Bitcoin is surveillance" As regulation begins to take the center focus of cryptocurrency more users will shift to value in privacy. I'll leave you all with a meme: