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Price Analysis

Amidst Volatility, Monero Exhibits Price Rise of 3%

Monero (XRM) had recently completed its scheduled protocol update on March 2019. The new upgradation features PoW algorithm for better ASIC resistance, changes for resisting big bang attacks for improving privacy. 

Current Statistics of Monero:

  • Price in USD: $81.90 
  • Price in BTC: 0.00806808 BTC (UTC time 09:21)
  • Circulating supply: 17,169,643 XMR
  • Market Cap: $1,410,536,621 
  • 30-Day High / Low: $97.61 / $74.60 

Monero Price Analysis & Future Forecast:

From the above 1-day XMR price chart, it is evident enough to understand that till now, Monero is making a good move to maintain its bullish trend for, since yesterday, it is getting traded in the same trend without any intermediate declinations, and this is really appraising. On the basis of its yesterday’s prices, its first resistance is $84.05. Although, XMR is trading close to this first resistance, but due to high volatility, it can decline down easily. Yesterday, it declined down to a low limit of $78.70 and today; it traded at $81.44. So, within one day, the shift in the prices have been great. Within one day only, the price of XMR coin has deterred by 4.06%. 

Conclusion

Monero coin is in a highly volatile state. It can decline down at any time. One should not consider investing in the same as of now. investors must wait for the right time until the volatility subsides to a great extent.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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