Monero tech Analysis: Price Heads To A Key Support Zone

Today, the crypto market looks a bit better with more important coins trading in the green.

Monero is also trading in the green, and at the moment of writing this article, the privacy-oriented coin is priced at $47.67.

The daily chart has been really bearish during the past few days. According to the online publication FX Street there have been made continuous lower highs and lower lows.

The online magazine wrote not too long ago that “The volume is looking light so maybe the market is not behind the move lower. If it breaks on big volume then things can change.”

The crypto market dropped after BTC fell below the psychological level of $7,000 during the past days.

Some experts said that the moment market the best time to buy, and others remain optimistic regarding the price for the most important coin in the market.

For instance, it’s been revealed that BCT will definitely hit $100k during 2020, and in the long run, the coin is expected to hit even $350k; not to mention the $1 million prediction.

As you can see, despite the huge volatility in the crypto space, optimistic predictions regarding prices keep appearing.

Monero in the news

Regarding Monero, the coin managed to gain increased interest from investors this year.

Monero was in the news just the other day after a really shocking report surfaced.

It’s been just revealed that Riccardo Spagni, lead maintainer of privacy coin Monero steps down, according to an official announcement.

Monero XMR Creator Riccardo Spagni Says Layer 2 Bitcoin Privacy Necessary 696x449 1 - Monero tech Analysis: Price Heads To A Key Support Zone

The announcement is called “An update from the Core Team on some technical responsibilities.”

Here’s the official announcement:

“fluffypony is stepping down as the lead maintainer of Monero. Snipa will be taking his place. fluffypony will continue as a backup maintainer to relieve Snipa during times when he is busy or on vacation. fluffypony has served the Monero project well over its five years of existence, and he will continue to remain active in the community as a maintainer.”


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

2381 Articles

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