Price Analysis

Monero Price Analysis: Despite The Volatility, XMR is Holding the Bullish Trend And Will Soon Cross $100 Mark

eToro

Monero Price Statistics:

Price of XMR in USD: 95.30 USD (UTC 10:43)

Price of XMR in BTC: 0.01089632 BTC

eToro Crypto

Market rank: 13

Circulating supply: 17,011,309 XMR

Market cap: 1,616,856,101 USD

Monero Price Prediction and Analysis 

Monero price chart - May 30

We have considered 1 month chart for doing this price analysis of XMR. From the chart, it is evident that the lowest dip it had faced had a value of 59.22 USD on 29th April 2019. Since then till 11th May, it was completely submerged under the bearish zone, and although it peeped out on 12th May, it was not able to hold its value for a longer time and thus, again gravitated under bearish trend. It successfully made a turnaround from the slightly persisting bearish trend and from 13th May 2019, later making steady progress in the bullish zone. In between that, it again faced a slight dip on 18th May, and it had a trading volume of 78.66 USD then. The current bullish trend of XMR price has a good support resistance of 90.89 USD, and on 28th May it reached a value of 97.91 USD. So, within a span of 1 month, the current value of Monero is 60.92% more than the value 59.22 USD of XMR observed as on 29th April.

The 1 month progress in the value and position of XMR has increased its worth, and therefore its steady momentum and striking shift in prices are indicating that it can soon revive its value back to a great extent and the arrow is also indicating the upward trend of XMR in the upcoming days. Considering these facts, it is likely to happen that XMR can be around 98.22 USD in the upcoming days.

Conclusion

Monero is steadily making its progress with good momentum. Its price trend is also indicating a future upward trend. It is expected that it can soon cross the $100 mark. But as the market volatility is high, nothing is assured so; it is better to wait for some time and to be vigilant regarding the persistence of its value to make effective decisions regarding investment on the same.

 

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

Related Articles

Back to top button