Has the lower bound of the trend channel risen from 0.00205 or is it still there?
You can estimate for yourself in Polo charts by setting the length to 2 months, resolution to daily, and holding a ruler to connect the dump-wicks from that period. (Of course a million more ways to do it, including the using of volume-weighted averages which I also do).
I'd say it is about 208 now. There is a wall @ 210, which seems to be ready to capture the attempt to fall to the low trend line.
VWDA does not paint such a dramatic picture of the situation - the highest last week was 259, the lowest now 232. It is only -10% dudes, very hard to make serious profit with a serious position size...
I don't know the cause for the sudden surge, but the cause for the decline might be related to ETH. ETH is not going away, but I don't believe it would seriously eat "our" investorbase, it would be like saying that the surge in preprinted contract forms sales hurts the
sales of fine cognac.
Yes I also got it somewhere 0.0021 environment.
If you sold when I told to sell, probably now is a good time to start buying back slowly slowly keeping in mind that it might be too early to do so if the trend breaks. Buying max 1000 XMR at one time makes it sure you make some XMR. In dollars we are not indeed speaking about large amounts. However, if XMR goes to the Moon (not even 10 000 USD/XMR is considered as Moon landing since the potential is clearly out there), it makes difference if you win even 100 XMR and hold the profits long enough.
ETH clearly ate tons of Monero holders and the dumps were probably due to people running after ETH. However, at some point the Etherium waves start to calm down and then people will lose their interest in Etherium (at least partially if not completely) and then it is time to bring them back to home to Daddy.
Most investors in Poloniex are actually traders who buy low and sell high so they are pretty bi-polar in their positions (at least I assume so).
