Monero and many other cryptocurrencies are heading into a psychological level where the masses fear investing their hard-earned income into such an asset.
I believe that such thought processes will lead us to where we had previously seen the depression phase, or at least very close to it. This is where we will have maximum investor fears, but also maximum financial opportunity. If you are looking to invest in Monero for the long term the highlighted area is where I’d recommend doing so.
If this area is reached and price holds there we can expect a double bottom to form which is a very bullish pattern. Such a pattern will create a reversal that should push us into a bull market.