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Price Analysis

Monero (XMR) Price Prediction: The Altcoin is Pushing Toward the Formal Methods of Trading

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Recently, the CEO of Abra Global, Bill Barhydt, in a talk show, discussed how the crypto bank of the future would use digital coins. The interesting part of the whole talk was the addition of Monero (XMR) chips being added as a native option for a withdraw. Another noteworthy fact is that the Monero website is now available in Chinese as well. Not to forget that China is the biggest market for cryptocurrencies.

Current Statistics of XMR coin (On June 14, at UTC 20:03:11):

  • Monero (XMR) was trading around 87.756 USD.
  • XMR Vs. Bitcoin was trading at 0.01043515 BTC.
  • Additionally, the Market Cap of the XMR coin was 1,492,040,309 USD.
  • The 24-hour trading volume in Monero (XMR), at the same time, was 222,921,187 USD.
  • The total Monero (XMR) chips circulating in the market, at the time of writing, were 17,041,592.

Monero Price Comparison:

monero price prediction - Jun 14
Monero Price Chart – YTD

As on May 09, Monero was trading at $66.258. However, today, the digital coin has shown an immense growth of 32%. Again in the weekly chart, the crypto is trading with a hike of 5.21%, from the market price of 83.407 USD on June 07. For yesterday, the coin opened the day at 90.21 USD, while closed at 89.26 USD, with a small dip of 1.05%.

Monero Price Prediction:

According to our speculation, Monero (XMR) is all set for a triple-digit mark, but this uncertain market is acting as a roadblock. For now, there is a first support level at $85 following around $86, and a short term resistance at $94.

Conclusion: 

As an after effect of the latest upgrade, the Monero team is now focused on the mainstreaming the altcoin as much as possible. And, Most of the analysts believe that Monero may reach new heights. Although there is a little bit of slowdown in the market yesterday, this is not the sign of any bearish trend. We saw a similar trend last week as well, where the trends were bullish for the first 3 working days but slowed down a bit in the last 2 days. A similar pattern is happening here, and there is no need to be worried. Go in the market with a long-term perspective and with an expectation of a good return.

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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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