Zcash was valued way to high when released, which at its time was a genius marketing move, but not so much for the traders. Technical Not much information to go on, chart kinda messed up because of the insane valuation at start. But we have a wedge, and I will be buying the breakout. Looking for it to go as high as 0.145 for this trade. Buy In (0.065) ...
A bullish pennant (in green) has been developing since a bounce off of support at 0.0096 in late December 2016 reaching a peak and finding resistance at 0.0167. A cup & handle pattern has been clearly identified and at first it looked as though XMR would be ready to take off in early February 2017 buoyed by the anticipation that Jaxx would be adding an XMR wallet...
We had previously expected XMR to make a significant move upwards due to: (1.) BTC pulling back; (2.) XMR wallet on Jaxx, release scheduled for 21st Nov www.reddit.com However, (1.) Due, probably in large part, to real world economic factors such as Yuan devaluation, Indian demonetisation and a run to an alternative 'safe haven' while gold and silver turn...
It looks like Jaxx has not been able to implement their mobile wallet for Monero and they are having some difficulty getting on the same page with the Monero devs. This seem like a great opportunity to short with the 4 hour ready for a bearish trend confirmation with the Chinkou Span about to drop through the cloud.
BTC has returned with support above $700 which will have pressure on XMR price. This could slow down the time it takes to re-attempt or exceed previous all time highs. If pressure is maintained on XMR we could expect a slow and steady climb until Jan 17th's hard fork. However... Jaxx are currently targeting 21st Nov as the date that XMR is added to their...