The beginning of 2020 has brought good price momentum for most of the cryptocurrencies. The first month help in recovering from previous losses and now the second month is breaking records of 2019 gradually. The current price of Monero is $93. It has touched $94 in recent times. The traders are eyeing for the coin to breach the $96 level.
XMR/USD Price Chart (1-Month)
Monero’s price was at $66.56 on January 15 and then escalated to $71.69 in the next two days. The coin couldn’t hold the level and fell to $64.89 by 9.48% drop. The XMR coin locked itself at the same level until January 22. Later, the currency dropped to $58.40 by 11.84%. After this fall, Monero’s price was again spotted improvement. The same continued till the closing days of January. The price counters changed from $58.40 to $75.22. On January 31, there was a slight plunge marked and the price reached $72 mark.
February month spotted upsurge in the XMR price. The price moved from $71.9 to $77 in just two days. The coin was spotted trading around $77 till February 08. Monero price climbed to $86.95 by 12.28% hike. Then, the price dropped to $82.77 on February 11. After this fall, the coin started a sharp upward movement and the XMR price touched $94 mark by yesterday. The month-long movement brought 41% progression at the price of Monero coin.
The currency is quite near the immediate resistance level at $95.57. The same is likely to breach in the coming hours. The possibilities are that the coin might escalate to the next resistance level at $98.69 in the upcoming days.