Price Analysis

Will Monero (XMR) be able to Break the Downtrend?

Monero was priced as high as $57.65 on October 10, 2019, and at that time, the coin was trading above the baseline. Despite the falls, it continued to be traded at the price of $57.017 the next day. Since the said date, XMR coin has started to show signs of a gradual decline. It fell to the lowest trading price of $52.495 yesterday. While writing this, Monero is trading downwards.

Monero price chart

Monero Price Prediction

Monero indicates a bearish trend by almost 3% today as compared to the price of October 12, 2019. The same movement is expected to continue with XMR coin, and it may face the next support at $52.53.

As per the current Monero price trend, you can purchase new coins. Today also, XMR can be traded in a similar price range as yesterday. The CMF indicator also points that today, it is indicating a bearish run. Trading on a short-term basis on the Monero may not be that fruitful considering the volatility of the market and the movement over the past few days. Monero has got the potential to reach around $60 by the end of the year if it is able to maintain its consistent performance.

Resistance & Support Levels

R1: $53.65, R2: $54.27 and R3: $54.77

S1: $52.53, S2: $52.03 and S3: $51.41

Related posts

Bitcoin Fetches a Growth of 1.38% to Go near $9800

Edna Barth

Cardano Records A Drop of 5% in the Last 24 Hours

Willard Roman

After Witnessing a Constant Drop Yesterday; IOTA Peaks with Steady Escalation

Heather Norfleet

Leave a Comment