Monero is at some very exciting levels. Fundamentally it is off the ATH quite a bit and if you are into buying and stacking in cold storage, it can be a great level if you are a believer.
As a trade, it is at an exciting and also psychological level of $200. Some people want to play it short, that makes sense looking at the technical analysis and breaking below 200. However once you mix it with the fundamental analysis, personal belief in the coin, the project behind it, the huge community it has, all indicators are shouting BUY.
That is not to say it can't go lower, be careful if it breaks and have stop losses in place. As a personal long term play, I am adding more Monero to my portfolio and if it drops I will add more. As a trade, I am waiting for it to break up and will open a long term trade with tight stop losses, moving the SL up to the entry position once it goes up, then letting the winner run and looking at the technicals when to take profit and look for new positions to enter.
Good luck :)
As a trade, it is at an exciting and also psychological level of $200. Some people want to play it short, that makes sense looking at the technical analysis and breaking below 200. However once you mix it with the fundamental analysis, personal belief in the coin, the project behind it, the huge community it has, all indicators are shouting BUY.
That is not to say it can't go lower, be careful if it breaks and have stop losses in place. As a personal long term play, I am adding more Monero to my portfolio and if it drops I will add more. As a trade, I am waiting for it to break up and will open a long term trade with tight stop losses, moving the SL up to the entry position once it goes up, then letting the winner run and looking at the technicals when to take profit and look for new positions to enter.
Good luck :)