Monero (XMR) Price Races Today, Eyeing $50 – Bulls Are Negotiating With The Resistance
The crypto market looks green today, and this comes like a breath of fresh air, following more days in which the digital assets have been trading only in the red.
Monero is no exception and the privacy-oriented coin is trading in the green as well and it seems to be racing really fast.
Bulls are negotiating with the resistance
As FXStreet reported, “XMR/USD went up from $45.50 to $47, charting a 3.30% increase in the early hours of Friday.”
The same online publicaiton also highlighted the fact that bulls are negotiating with the resistance at the 20-day Simple Moving Average (SMA 20) curve.
The outlet mentioned more tech indicators: “The 20-day Bollinger Band has narrowed considerably, indicating decreasing price volatility.”
FXStreet continued and said that “The Elliott Oscillator has had six straight green sessions, meaning that the market sentiment is currently bullish. The Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum.”
At the moment of writing this article, XMR is priced at $49.50, and it’s expected to surpass the $50 level soon.
Monero in the news
Monero has been making lots of headlines in 2019, and it seems that the privacy-oriented coin managed to gain more and more interest throughout the year.
More crypto enthusiasts understood the importance of privacy and anonymity, so they chose XMR as an investment option for the future.
A few days ago, it was also revealed that Europol confirmed the fact that Monero transactions cannot be traced.
As you already know, Monero is the most popular privacy coin, and it’s been just revealed that a recent public statement made by the European Cybercrime Centre (EC3), part of Europol, confirmed, there is a good reason for this.
Crypto predictions continued to be bullish, despite the volatility of the crypto market.
Monero is also expected to surge in price soon, so stay tuned to see where the price of the digital asset is heading these days.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.