Monero has had a bullish session on Thursday to break above the $200 level.
, as they lead the rest of the smaller coins. Because of this, you need to keep an eye on both of those, because if they are rallying, Monero has a chance.
Keep in mind that the smaller coins do tend to be a bit more volatile, so given enough time it is likely that we will see a bigger move. It is worth noting that the candlestick on Thursday was bigger than several of the ones before, so with that in mind, it does bode well. On the downside, the 50 Day EMA sits just above the $180 level, which is a support region. Ultimately, this is a market that should see plenty of buyers in that region, and therefore I would anticipate a bounce from that area. However, if we were to break down below the $180 level, it is likely that the market could drop towards the $150 level underneath. The market currently sits between the two major moving averages, which typically means you are in the midst of some type of squeeze.
On a daily close above that level, I will start buying Monero for a longer-term move. Until then, it is bound to be rather choppy.
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