Did you know Monero made a new intraday high yesterday? I did not until a friend asked me my thoughts on the coin.
Off My Radar
The bottom line is there are just too many damn coins to track and gauge them all (at least well) and Monero, along with Ripple are just two of the larger cap ones that I have not followed.
However, now that it has been brought to my attention lets take a quick look at the chart and see what's happening.
New Highs
As you can see Monero made new all time highs over that past 24 hours and now looks like it double topped and may pullback after the recent run up.
Granted, there is no gaurantee that it will pull back, but the candle pattern formed over the past few days is that of a reversal. This assumes the current candle closes down (red) and there is still more than half the day for that candle to trade so we shall wait and see.
Either way, buying at the highs isn't the best recipe for success with any investment. I'm going to keep my eye on this and see if it gives a pullback to enter. $149 is an area I will begin to look.
If Monero doesn't pull back and pushes through the new highs then I would wait for a pullback and test of those highs.
Not sweating it either way, spread over enough cryptos as is. No need for me to chase anything.
Against BTC
I will say I love the way Monero looks against BTC so much more than against USD.
It broke out of a long-term downtrend and then made a higher high followed by a higher low. That .012 level that marks the bottom of the downtrend will likely be a floor for sometime.
Anyway, random crypto thoughts...
Best Regards,
Disclaimer: Content in this post is my opinion only.