Price Analysis

Monero Price Moves Towards a Recovery Mode

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The crypto market opened today with heavy pressure and as a result, the coins were crushed by the bear. The market cap reached $22 billion. Bitcoin was around $8,200 and reflected no hope of recovery. However, yesterday, there was a visible upsurge in the price, which took a downtrend towards the end of the day. The tables seemed turned and we are anticipating that it wouldn’t be a surprise if Monero closed with a positive digit in the market.

XMR to USD Price Comparison:

The data feed is taken from Bitfinex on October 02, 2019, at 11:44:00 UTC for price analysis.

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Monero Price
Monero Chart By TradingView

Yesterday, Monero began with an upsurge; the price moved from $57.10 to $58.49 by 2.44%. The price slipped and reached $57.07 by 2.40%. After then, the currency improved and jumped to $58.47 by 2.45%. Monero dropped and picked up again; the price took a final dig from $58.2 to $55.9 by 3.45% and closed the day. Today, XMR started with a drop and the price counter moved from $55.9 to $54.6. There is a recovery in the price, which brought XMR to $56.17; the progression in the price is 2.76%.

The future of the coin looks flourishing. If we look at 3-day price movement, then amid huge volatility, XMR maintained itself at the same level. Yesterday, it touched a high at $58.19 USD and a low at $55.70 USD. We are anticipating that Monero would soon start the price rally in the market.

The coin is recommended for long-term traders; the specified period is likely to bring a huge return.

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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