Hey guys, lets have a look at Monacoin. About 10 days ago I told you guys that Monacoin had a daily close above the bollinger band median but then Bitcoin started to fall and that was something we couldnt really see on this chart. That is the reason that you should always keep a close eye on Bitcoin since it is dragging along a lot of cryptos to the downside. Not always, but often enough to take it serious.
Here is the daily chart:
Comment: At this time, we are looking at the descending trendline and we want a daily close above it in order to go back up again. What could make this happen is a higher daily volume and that is something that I expect to happen before the end of this year. We only have 3 more days left.
So, there you have it, the latest on Monacoin.
Happy trading!