The crypto market is not enjoying its best days, price-wise as you already know by now. After some pretty strong bulls that took over the market hits year, there followed strong corrections as well.
A lot of crypto experts said that such corrections are healthy for the crypto market.
There’s quite a weak market condition of the Monero (XMR) privacy-oriented coin which managed to ravish its capability to record a bullish market performance.
More than that, if we take into consideration the intraday chart, XMR/USD pair has been pointing out to a bearish outlook these days.
Monero’s price may continue to fall
And as if things were not gloomy enough, it also seems that experts are anticipanti8ng even more downside moves.
According to crypto experts, the XMR/USD pair may continue to suffer as the unfavorable crypto market conditions may go on and affect the upcoming projects.
At the moment of writing this article, XMR is trading in the green and the privacy-oriented coin is priced at $78.95 on CMC.
The coin is placed on the 11th position on CMC after making huge efforts to reach number 10.
Monero high volatility
It seems that regardless of the huge potential that XMR has, it will suffer to a great extent, according to the latest reports from CryptoNewsZ.
They write that “the unfavorable market condition will adversely impact its upcoming projects. Even the condition is not expected to improve before the end of this year rather; it can turn further worst.“
All in all, the overall trend of Monero seems to be highly volatile these days and investors are not advised to invest in the coin because it can trigger huge losses.
On the other hand, experts recommend investors to wait for the right time in order to put their money in XMR.
It’s important to understand that this will be when the volatility is reduced to a great extent, as the online publication mentioned above notes.
