Monero Price Analysis: Monero Price Showed Stability Since Yesterday!

The final audit of RandomX has been completed. After the audit process, the conclusion was stated by Quarks Lab that they hadn’t found any significant optimization of PoW algorithm even with approximations. Now the question is how it affects Monero and its users?

Current Statistics of Monero

XMR price is currently trading at $86.69 at 07:03 UTC on 4th August 2019. The other essentials are as follows:

  • Return on Investment: 3402.84%
  • Total supply/Circulating Supply: 17,135,589 XMR/ 17,135,589 XMR
  • 24 Hour Volume: 91,101,560 USD
  • Market Cap Value: 1,484,808,096 USD
  • 7 Day high/low: 89.16 USD / 77.15 USD

XMR to USD Comparison

Monero price chart - Aug 4
Monero Chart By TradingView

The value yesterday at 00:03 UTC was trading below the baseline a16t $83.99. The value escalated by 5.10% at 08:24 UTC trading value changed to $88.28. The value from then dropped by 3.08% trading at $85.56 at 14:46 UTC yesterday.

The value was escalated by 3.51% at 00:14 UTC today with the trading value of $88.57. The value dropped by 3.23% trading at $85.70 at 05:01 UTC. From then on, the value is now escalated by 1.12% as of now.

Monero Price Prediction and Conclusion:

Considering the trade from the past 30 days, the trades of Monero might be at a confusing state of a point. It seems like the trade is fluctuating at the pivot point! As of now, the users and investors might want to hold on to their position n Monero network and closely analyze the trend. You can check the Monero future to get more knowledge about the future market of the coin.

Since the XMR price is neither ideal for ‘buying’ or ‘selling,’ you might want to hang in there! However, the resistance and support level might help you with a safer bid decision:

Resistance Levels: R1: 89.95, R2: 91.71 and R3: 94.72

Support Levels: S1: 85.18, S2: 82.17 and S3: 80.41

By the end of 2019, if the value switches to bullish zone again, we might be able to see the touchdown of $150 by then!

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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