Monero Technical Analysis: XMR Surpasses $90


Monero has been in the spotlight a lot these days, especially after the coin was able to surpass Tron (TRX) and Cardano (ADA).

Monero price analysis

Monero’s XMR was able to rise by 0.58% yesterday.

“Following on from a 4.82% rally on Saturday, Monero’s XMR ended the week up 10.25% at $88.34,” according to FXEmpire.

The online publication notes that “A particularly bearish start to the day saw Monero’s XMR fall from a morning high $88.6 to an early intraday low $85.6.”

They also say that despite the early sell-off, Monero’s XMR has been able to hold above the first major support level at $85.26.

At the moment of writing this article, XMR is trading in the green on CMC and the privacy-oriented coin is priced at $92.31.

The best time to buy XMR

A few days ago, it was reported that now is the ideal time to buy XMR.

According to crypto experts, now is the best time to buy.

The online publication Smartereum recently wrote that “A major drop in volatility, as well as a continued consolidation, were observed on the daily chart for the coin.”

They continued and said that “Analysts and traders in the crypto market usually see these periods of little activities as the best time to accumulate before the next big move takes place.”

In other news, the Monero community is waiting for an exciting event which is scheduled this month.

The important upcoming event scheduled for the Monero community is Monero Village DefCon 2019  which will take place between August 8 and August 11.

According to the official website, the Monero Village has been created by the Monero community members with the main goal of “teaching others about, and spreading awareness of, the cryptocurrency Monero, and what it adds to both the cryptocurrency space, as well as the global privacy conversation.”

The focus of this important event is to educate people on Monero.

Coins Mentioned

XMR

Monero

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Eduard Watson Author

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

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