Strong Backing, Thoughts on Monero

6 ม.ค. 2022

Monero Analysis:

Two things that stand out to me immediately are the decisively volatile price action periods in late 2017/early 2018, and in early 2021. The levels during these volatile sessions seem to be trading generally higher in 2021 than in 2018, and the decisiveness of market closing is clearly greater in 2021. This market seems to have undergone an extremely similar market phase in 2021 as it did in 2018, although this time around there has been several years of consolidation distancing the action.

I feel that considering the eventfulness and the general uncertainty of the global markets during the global pandemic that started in 2020, the fact that Monero continued to trade at generally higher levels than prior to early 2018, and was able to again display considerable value leading into early 2021, shows that this asset is here to stay.

I think in the short term we will most likely see a continued period of consolidation and market correction, with levels perhaps even getting as low as 100.00.