LoDoCrypto
Long

Monero Outlook 2019

BITFINEX:XMRUSD   Monero / U.S. Dollar
I'm a fungibility perma bull so coins like Monero and Masari are my FA dolls. I don't really trade Monero as I'd prefer to use it, but it's interesting to see what potential gains I could get through mining/buying further into the project. I've identified some key price points to watch on the chart and will elaborate on those.

Check out the volume in Sept 17 on this daily chart . It spikes hard. Sept 17 was before the world got caught up in the euphoria of the bull. Sometime very soon we could see similarly large, consecutive volume days that spike the coin up to the $113-$115 resistance. With the way the market is behaving this could happen incredibly quick, or it could take a couple weeks. There are crazy setups all over the place and we'll see if new money is flocking in over the course of April/May.

Once it breaks & holds $115, I think it's pretty easy to move in and go long confidently. The most intriguing part of this chart to me is the zone between $150-$180. $150 is a very strong resistance and will also act as a strong support. $180 & $218 are weak resistance levels. They're the culmination of 3-5 days of trading.

XMR has a very easy path from $150 to $300. $300 - $450 are full of hard resistance levels and will present alot of challenges. I think anyone entering between $70 - $115 will be very happy by EOY.

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