Monero coin has not been able to live up to its potential this year, with the price mostly moving below the baseline, as seen from the YTD price movement. The XMR coin managed a short upward trend after April which lasted till June end. But the bearish turn in the crypto market again took a toll on its price and it went downwards from thereon. Monero price has been moving in the range of $41.61 – $115.57 over the period.
Monero Price Analysis
XMR coin has been on a roller coaster ride since the beginning of the year, as observed from the YTD price trend with its price being in the downward range. The price of Monero started trading below the baseline at $41.6107 on February 06. It managed to have an uptrend to the extent of 71.77% on April 08 at $71.6761. On April 30, the price of XMR coin went down to $59.8504 showing the downward movement of 15.94%. The price then had a good rally to the tune of 93.10% on June 24 and reached $115.5715. The bears made their strong presence felt and the price went downhill and reached $53.6369 on October 25; the huge fall was at 53.59%. Monero coin managed to slightly recover to the tune of 22.05% on November 14 at $65.4626. At the time of writing this analysis, XMR price has again lowered to $46.0250 showing a downward movement of 29.69%.
Monero price has had a slow start to the year and managed to keep a short upward rally for some time, but the onset of bears in July put pressure on its momentum. The volatility is still ongoing in the crypto market and as per Trade99’s analysts, the XMR coin might get back to a stable momentum by early 2020.
Current investors should continue to hold on to their investments as the crypto market is expected to be bearish for the short-term, but by early 2020, the market would go for a price recovery. Short term traders can continue to trade but with a little caution.