Monero has been through a price correction of 7.02% in the last 24 hours. It has traveled from $56.5 to $52.6 in these 24 hours. The three major price shifts show the struggle of XMR coin in the market.
Monero Price Analysis
Monero started the day near $56.5798, and over the next 2 hours and 49 minutes, it was up by 1.27% to touch $57.2990, the highest point of the day. It was followed by a whopping fall of 9.52% that took the XMR price to $51.8498 after a $5.45 fall. The last swing happened between 19:33 UTC and 02:22 UTC today, and this swing witnessed a freefall of 2.27%. It placed XMR price at $52.7139.
Monero’s market cap also has been hit in these 24 hours. Between October 23 and today, the market cap has gone from 915.63 million USD to 907.21 million USD.
Currently, the XMR price stands at $52.6069, its 50-days average is at $63.05921, and 20-days average is at $54.9621. Its current price is 16.57% and 4.28% less than the 50 days average and 20 days average, respectively. Therefore, according to Monero Forecast by experts, Monero’s next halt may come at $56.32.
|Monero (XMR)||Resistance and Support Levels|
|1st Support Level||$50.92666667|
|2nd Support Level||$48.84333333|
|3rd Support Level||$45.52666667|