Monero Price Analysis: XMR Stooped Down the Previous Support Level

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Monero (XMR) released a new version PiNode-XMR, compatible with Raspberry Pi 3 Images with interactive menus. The Monero team has been working for months on this project. This is a huge leap forward for the altcoin. The goal is to have a plug-and-play full node that requires no command line input and therefore completely beginner friendly. The main feature and step towards that introduced in this version is the new “Advanced Settings” page in the web user interface. So with the click of a button user now can access these features from any device with a web browser on the same network. It is making crypto easily available to beginners.

Current Statistics of XMR Coin:

Monero Price Chart - 2 July
Monero Price Chart
  • On July 02, at UTC 07:27, Monero was trading around $85.871.
  • At the same time, Monero was trading at 0.00861403 BTC.
  • Additionally, the Market Cap of the Monero coin was 1,447,995,993 USD.
  • With a Return on Investment of 3,328.98%, the total Monero (XMR) coins circulating in the market was 17,070,711 XMR.
  • The 24-hour trading volume was 131,795,090 USD.

Monero Price Comparison:

Let’s compare the fluctuation in Monero price over a period of 25-days. In that context, on June 07, the digital coin was trading around 89.420 USD. Nevertheless, today, the digital coin has gone down by 3.96%. The coin has shown a similar trend in the 7-day chart. On June 26, a week back, the crypto was trading at 111.67, but today, it has made a huge dip of 23.23%. But in the intraday trading on the other day, the crypto gain some strength. Monero (XMR) opened yesterday at 87.76 USD, and with a bounce-back of 0.76%, it wrapped the day up at 88.42 USD.

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Monero Price Prediction:

Although there is a bit of stability in the degrading price of Monero on the previous day, the coin has made a dip of more of $20 in the last 10 days. There seems to be no sign of strengthening in the crypto for at least next couple of days. The altcoin is more of a transactional currency, and in the current scenario, it’s tough to make any prediction. Not to forget that the altcoin has stooped below the previous support level of 87.12 USD.

Conclusion:

Besides investing heavily on the updates and continually engaging the community, everything seems to be going south-wards for Monero (XMR). But there is an added benefit with the altcoin for being a transactional currency. If the market goes bullish, similar sentiments will be seen in the crypto. As of now, buy the crypto only if you are a risk taker.

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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