Monero Price Prediction: The Privacy-Oriented Coin Shows An Uptrend
In a volatile crypto market in which the prices have been surging and dropping a lot lately, Monero (XMR) seems to be able to maintain a specific stability.
These past few days, the crypto market has been extremely volatile, and most coins have been mostly trading in the red.
Monero found support above $56
XMR has been showing an uptrend during the same past few days, and the same momentum is said to continue for a while.
XMR seemed to have found stability/a support level above $55, and it’s been said that crypto enthusiasts can also purchase XMR in order to gain important returns in the near-term.
CryptoMoonPress online publication writes that “Chaikin Money indicator also points out that Monero is reflecting an uptrend. It is suggested to trade from the long-term as it can reach as high as its 30-day high $74 by the end of the year. In such a situation, traders should consider the following levels to avoid losses in intraday trading.”
Speaking about Monero’s price today, at the moment of writing this article, the privacy-oriented coin is trading in the red and it’s priced at $56.97.
The crypto manages to remain above $55-$56.
Monero in the news
In other news, Monero has revealed the introduction of the new POW algorithm that will be keeping ASIC mining at bay.
And, in other news, Crypto Stashed online company that has the primary purpose of instructing others on the functionality and utility of cryptos, discussed Monero.
They have recently published a new blog entry and discussed the best GPUs that can be used to mine the Monero.
Other than this, more crypto enthusiasts are showing their interest in Monero, and this is mostly due to its strong privacy-oriented features hat the coin has.
Monero’s Riccardo Spagni has been highlighting the importance of privacy for quite a while now and it seems that more crypto fans are seeing a great investment opportunity in XMR.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
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.