Price Analysis

Monero (XMR) Price Analysis: Will The Current Upward Trend Of Monero Make Its Value Cross $100 Mark?

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Monero’s price ranges are moving upward as of now, and it seems that it can pertain its bull line to some extent in the upcoming days. Its values are lying in close proximities to $100 mark so; it is expected that it can hold its value in the upcoming days, it can soon be trading at a price point of three digits. Although fluctuations in prices are inevitable as of the current volatile market, the way XMR’s value is appearing from its 5D chart is giving positive vibes only.

Current status:

  • Market price in BTC: 0.01084222 BTC
  • Market price in USD: 94.94 USD (UTC time 07:17)
  • Circulating supply: 17,005,496 XMR
  • Market rank: 13
  • Market cap: 1,614,125,973 USD

Price analysis and future price predictions:

Monero Chart

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From the 5D chart of XMR, it is evident that till yesterday, it was all amidst in the bearish zone. It started picking up its momentum really steadily since yesterday night, and it is currently moving in the upward trend line. This shift in its value has been really drastic for it had been in the maximum bearish trend for the past three days. On 23rd May 2019, it was valued at $80.90. From this point, it raised its value to as high as 95.99 USD today. Although its value within these 5 days has been on a bearish trend line by 15.72% it is expected that in the upcoming days, it can be able to retrieve is value significantly to an extent. Its value of 95.99 USD can act as a good support resistance level. Considering these facts, we think that XMR can be around 96.28 USD in its upcoming days and if can have less impact of the volatility, then, it can get upraised to even $100 mark.

Conclusion:

XMR appears to be on the bull trend in the upcoming days. If it gets less impacted by the market volatility, it can significantly have higher values and can then be considered as a good option for short term investment. As the momentum of XMR within a span of 5 days has been really drastic, it is better not to consider investment on the same currently.

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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