XMR is struggling at the moment. Stoch indicates oversold, but Ichimoku and RSI look like shit. I'm expecting the RSI to turn around soon and confirm a trend reversal. I have outlined a support/buy zone. But a buy won't be confirmed until the RSI improves. If the lagging span crosses and RSI improves that's a very good signal.
I can't conceive of a world where Monero drops below the green support zone.
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Okay so we've hit the 23% fib line. Critical time for XMR now.
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Bets are off. Waiting for some stability in BTC before any upwards movement.
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Might see a bounce off the 38% fib level (don't think I went back far enough for fib last time, this new 38% should be more accurate).
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*Might see a bounce. But all the signs are still bad.
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Possible falling wedge. Chart still looks like shit though.
@Brisben, everybody was long on XMR. The interesting should happen now. I still believe it will go up against Bitcoin but not because of TA. I just believe that privacy/fungibility is worth a bit more than 1% of Bitcoin.