Monero Manages To Retain $45 Despite High Crypto Market Volatility
The crypto market is mixed today, with a lot of coins trading in the red and other important digital assets trading in the green.
There’s massive volatility in the crypto market, but it seems that Monero managed to hang in there these days, around $45.
At the moment of writing this article, Monero is placed on the 16th position on CMC, and the privacy-oriented coin is trading in the red.
XMR is currently priced above $45.
The coin also managed to gain more interest this year, and more crypto enthusiasts saw an investment opportunity in XMR.
The medium-term outlook of Monero may get bullish
The online publication CryptoNewsZ writes that “Monero has experienced a decent loss in the market cap over the last 24 hours. Between December 25 & 26, the market cap has fallen to 801.205 million USD from 807.752 million USD.”
They continue and report that “XMR’s 20 days MA stands at $45.74, and it’s 50 days MA is now at $45.77. It is currently being traded at $45.71, which is 0.13% and 0.06% less than the 50 days and 20 days moving averages, respectively.”
The analysts’ conclusion is that the medium-term outlook of Monero may get bullish.
Despite the high market volatility, a lot of analysts and experts have been making bullish predictions regarding the prices of the most important coin in the crypto market, BTC, and other digital assets as well.
Monero in the news
Monero made headlines recently in relation to the crypto exchange Poloniex which had the best news these days.
Poloniex seems to take a different approach compared to most crypto exchanges, and it’s trying to attract new users by abolishing the KYC Process.
In a new blog post, Poloniex said that users could trade digital assets in the future without having to reveal their identity.
New customers can start trading with a level 1 account, and this gives you access to unlimited trading, and unlimited deposit limit, and they can also withdraw up to $10k a day.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.