As the de facto privacy coin of the cryptocurrency ecosystem Monero stands at odds with current regulatory trends.
Yet I see great potential as it will follow BTC & ETH to first break out of it's 40-150$ range towards 300$ and reclaim it's ATH within this year.
ETH is finally moving and some of the value built on top of it is accruing to the protocol.
The longterm Support/Resistance around 385 is coming up and particularly interesting. If we break it, I suspect the bullish momentum to continue with a target of 800 for Jan/Feb 2021.
In case of stagnation the 385 level could be good short entry, but only as a very short...
Personal outlook - Not investment advice, serves as a note to keep track.
This is focused on optimizing the process of dollar cost averaging into Bitcoin. The initial buy in (~15%) to be placed at the 50 week moving average expected in November. The second buy (~20%) to be placed at the long time support around 5900 which may coincide with the 200 week moving...
Eyeing 0.162-0.172 USD to re-accumulate - looking for confirmation from MACD breakout next week.
In case it breaks lower, add more around long term support 0.13-0.14 USD.
