No need for a lot of explanation, inverted Head & Shoulders pattern. Ichimoku indicates trend is in good health, ADX ready to pop and it is already breaking up. Monero is IMO undervalued compared to other projects, with new open source hardware wallet almost ready and being the center of the Kovri I2P platform.
I am bullish on all privacy coins, ZCASH, XMR, etc. I specially like ZCASH, since it has the most cutting edge privacy features and its technology will also be used in ETH. The latest months have brought us improvements in the form of Sapling, which makes ZK-Snarks faster and lighter, important for mobile support. Several institutional players have jumped on...
Monero is hitting historical resistance, and it is possible that it will correct. Right now there seems to be a double top in the making.
Support is holding nicely for now. If we are able to break last week's bearish trend, we could be in for a nice breakout and another attemp at the upper resistance.