Monero Price Analysis: XMR Making Attempts to Manifest Surging Price Trend

XMR is making good attempts intermittently to hold on to its positive trend despite of this intense volatile market. However, as the market conditions are not favourable, it is unable to provide the required support needed by the coin to be stable. Moreover, BTC is also erratic and turbulent in nature. Many altcoins including XMR are in a verge to lose substantial portion of its value to BTC very often. Therefore, liquidity of Monero is also high at the current moment.

Current Statistics of Monero

Price in USD: 80.08 USD

Price in BTC: 0.00833710 BTC (03:22 UTC)

Circulating supply: 17,115,454 XMR

Market cap: 1,382,311,561 USD

Market rank: 13

Monero Price Analysis and Future Price Predictions

Monero price chart July 24
Monero Price Chart by TradingView

From the above 1-day chart of XMR, it is visible that XMR is trying hard to hold on to its bullish values but as mentioned earlier, due to the current market condition, XMR is not gaining the required favourable support. Although it was getting traded in bullish range yesterday, but intermittent bearish dips are also evident. Its momentum is also unsteady towards the bullish zone and thus, it is lacking adequate support levels. Yesterday only, it was traded at 84.65 USD but today, it went down to 78.43 USD. So, within one day, value of XMR got declined by 5.39%. As per Monero price predictions and considering the above facts, we think that in the upcoming days, XMR can face the major support level near 78.05 USD.



From the above analysis, it is to be concluded that although XMR is trying to have a strong grip over its bullish trends but still it will always be succumbed to decline often as the market is highly volatile at present. Therefore, one should not consider investing in XMR currently and must wait for the right time till the market condition improves.

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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