Monero was among the top ten trending coins in the first and second quarter of 2019. And the currency has started this year on a positive note. Thus, the traders were eyeing for a better return in the first quarter of 2020. The XMR coin is trading as per the expectation of the traders as it has brought 31% progression in the last 30 days. The future of the coin is likely to be bright. The traders can dig-in with a high prospect of return.
XMR coin was trading at $65.01 on January 20, and then it hovered at the same level till the next day. The pullback pressure increased after the same and thus Monero price dropped to $58.10 on January 24. The price has improved in the later days and XMR price touched $75.22 on January 30. The last day in January month observed a marginal plunge. The coin closed the month at $71.94.
XMR/USD Price Chart:
February started with a bullish impact. Monero coin price jumped to $77.44 from $71.94 by 7.65% on February 03. After this hike, the coin hovered at the same level for a while, and then, the price escalated to $86.95 by a massive hike of 12.28% on February 09. There was a slight plunge marked that took the XMR price to $82.77. The next day, the currency jumped to $94.47. The uptrend remained intact for Monero till it touched $96.36 on February 15. After this continual upward movement, the price dropped to $81.13. However, XMR coin exhibited improvement and is now at $85.14.
As per Trade99’s analysts, the coin may trade in a similar range with moderate fluctuations as it is currently trading under the bullish influence. In the upcoming hours, Monero might trade towards the immediate resistance level at $88. The same might get breached soon. However, if it reverses the trend, then XMR might find the next support at $82.