And Bitcoin, while also down is showing fairly strong support and not doing the sort of draw down we have seen in past bears. Many are still calling for Bitcoin to do something it never has and pull back to below the last cycle's highs.
This belief seems widespread, however it is false.Top of April 2013 was $266.
Top of December 2013 was $1170.
Bottom of August 2015 was $160.
And I remember at the time, during the downtrend post December 2013 peak, many people could not envision the price going below 266$ because "the price never went below the last cycle high" (and despite this pattern being true at that time - unlike today, the pattern got broken).
Nice catch... Maybe it's the preponderance of folks coming in between 2015-2017 that makes this belief popular.
On to a chart. I have had these little lines on my monero USD chart for a while. We are fairly decisively busting through them, looks like. I think if we get the BTC run I am kind of expecting (just a little relief, or a start to a good little bull? dunno) then I could see XMR breaking back into the 200s range again soon.
We are so far overdue for a level-up, that it should be a whopping big one. Again.