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Price Analysis

Monero Price Analysis: Monero (XMR) Price Is Steeping Down Since Last Two Days

Monero is potential crypto in this volatile market for it tries its best to hold up its value for a longer period. Although, fluctuations in prices are unavoidable circumstances for any altcoins as of now due to the unfavorable market conditions, but the worst part is that even if any of the altcoins have any potential to rise up with its own updates or new projects, that too will have higher tendency to get turned down due to market conditions only.

Current Statistics of Monero:

  • XMR Price in USD: 79.360 USD
  • Market Cap: 1,358,212,105 USD
  • Circulating supply: 17,157,115 XMR
  • 7 Day High / Low: 94.60 USD / 74.60 USD

XMR to USD Price Comparison & Future Forecast:

Monero Price Prediction
Monero Price Chart by TradingView

From the above 5-day Monero price chart, it is understandable that from 6th to 13th August, XMR coin had traded above baseline. Although fluctuations were unavoidable, its effort to trade in the bullish ranges is appreciable, even in unfavorable market conditions. From the noon of 13th August, its momentum has started declining down steadily and right now, it has completely gravitated below the baseline. On 7th August, XMR price was trading at 97.685 USD, and yesterday only, it declined down to as low as 74.103 USD. So, within a span of a week, the XMR price has been reduced by almost 24%. Then, Monero price escalated by 7% as of now.

Conclusion:

Monero has although the potential to retain its value at a good level, as the market conditions are highly unfavorable, one should not think of investing in the same currency. It is better to wait until the market volatility subsides to some stability.

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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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