Taking a birds eye view of the Monero market to get an idea where we stand as we enter the new year.
Monero performed great toward the end of last year, more than tripling in value before we saw the market correcting.
XMR is alongside many other of the Altcoin majors busy experiencing a correction.
We can see that market is pushing against resistance at $380 and should the bulls fail to push above that we will continue the corrective cycle and possibly test the upper $200 zone again.
Long term speaking I feel that Monero is a great long term investment and one of the best Crypto’s to hodl.
Long term view – Bullish
Medium Term Support – $280 – $300
Longer Term Support – $200