Monero (XMR) Trades Above $51, As The Crypto Market Turns Green

The crypto market experienced a massive fall a couple of days ago.

It’s been revealed that lower lows and lower highs are setting in, and, by the look of things, BTC might be heading to where it all began, according to some speculations: $4,000 – $5,000.

A few days ago, we also addressed two potential reasons for BTC’s recent fall.

According to crypto experts, miners and Binance shutdown in China have influenced the price for the most important coin in the crypto market.

Monero is struggling to recover

The crypto market failed to strike a robust price recovery, and XMR is no exception.

The 5-day chart seems bearish enough, and the crypto needs a decent support level to start an uptrend.

CryptoNewsZ wrote that “Technical indicators are giving extremely negative signs at the moment as the short term SMA line is below the long term SMA line. MACD chart has just formed a bearish crossover while RSI is even below 30, noting an oversold phase. Notably, the coin is trading under +a strong selling pressure.”

The online publicaiton continued and wrote, “Monero is likely to see resistance at $57.25, $60.36, and $62.21 and support levels at $52.29, $50.44, and $47.33.”

At the moment of writing this article, Monero is trading in the green just like most of the coins on CMC.

The privacy-oriented coin is priced at $51.21.

Monero was recently in the spotlight in relation wot the Monero website

Fireshot Capture 004 Monero (xmr) Price, Charts, Market Cap, And Other Metrics Coinmarke website made a significant change is an online service that allows users to make anonymous payments via Monero.

They have recently made a significant change that managed to affect users’ privacy.

The website used to have an onion address reachable via the Tor network, and this made it highly private, but for a while, this service seems to have been removed.

You can read all the details on this issue in our previous article.



, ,




Leave a Reply

Your email address will not be published. Required fields are marked *