Price Analysis

Monero Price Analysis: Monero (XMR) Price Is Deterring Down Again

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The condition of the crypto market is so poor that altcoin like Monero is more prone to fall under the bearish zone than to rise towards the bullish trend and to retain the same. Yesterday only, XMR made a good move to upwards, but today, it fell below the baseline again.

Current Statistics of Monero:

  • XMR Price: 91.60 USD
  • Price in BTC: 0.00786770 BTC (UTC time 06:21)
  • Market Cap: 1,569,032,920 USD
  • Circulating supply: 17,140,999 XMR

XMR to USD Price Comparison:

Monero Price Prediction
Monero Price Chart by TradingView

From the 1-day Monero chart, it is highly evident that it is more inclined to fall under bearish zone than to rise. Its momentum is highly unstable and is falling rapidly in the downtrend. Yesterday only, XMR price was trading at 96.661 USD, but today it fell to 88.125 USD. Even, from the chart, it is seen that although yesterday, Monero tried to get traded in the bullish ranges if failed to avoid the intermediate deterioration. The shift in the Monero price, considering only one day has been great enough. Within one day, the XMR price has deterred by 5.23%. This poor condition is also not expected to improve in the upcoming months.

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Conclusion:

Monero is highly volatile now due to a depressing market sphere. This condition is expected to aggravate further as the market itself is highly volatile and unpredictable. Therefore, investors must not consider spending on it currently and must wait for the right time until the condition improves to a great extent.

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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