This seemed unusual so I snapped it.
Kurious is there a meaning or reason when the line is oscillating so neatly around the other, see poor sketch.
It looks like a one hour chart, and so the meandering is mostly just noise. BTC has been meandering up and down too, which is the strongest factor in price for XMR over short timescales. If you set a BTC chart up the same as the one you've posted, it won't look too different.
Sure, we are at a point of indecision... It's close to the halving, but hasn't kicked off enough to pull BTC over 10K. Some of the BTC rise has been the Coronavirus 'flight to safety', but the failure to break 10K leaves us on the blocks, tensing and waiting for the starting gun, or the race to be called off.
Short term it's a little will it/won't it?
Looking at the one hour won't tell you much and your MA lines are best set pretty long. 200/50 is a classic, and I like it on the 1 day chart for Monero. With MA's set to be longer term it's better for spotting Golden Crosses, like now...
It is looking reasonably bright. If BTC does pop over 10K solidly, it will get volatile. But right now Monero is just bored waiting to see what BTC will do - just when it's own Golden Cross is coming. Hopefully BTC won't spoil it.
The bottom scale is a MACD set to 26/12/9, which gives some clues in advance to movement.
