Price Analysis

Monero (XMR) Recovery Brings the Price Back to $55

  • Monero returns to the $55 after dropping to $46.58
  • The recent improvement spikes hope to the traders

Monero price took a steep fall in the recent price crash. Along with XMR coin, many cryptocurrencies were spotted trading downwards. However, the cryptocurrencies recovered, and so did Monero. The traders were expecting such an early improvement. As per the current movement in XMR, the price has almost returned to the opening price of the month. The month-long run is reflecting a 4% regression in the price.

Monero Price Prediction

XMR coin is reflecting the loss in the month-long run. The coin was spotted dealing at $51.476 on October 30, 2019. The price escalated to $66.871 by 14.44% in the later days. The coin couldn’t hold itself at the level and fell to $60.388 by 9.69%. Later, the price escalated to $65.42 by 8.57%. After that, Monero price started falling. The coin moved from $65.42 to $61.32, then $57.82 from $61.64 and later to $47.56 from $58.75. The XMR coin price again started moving up and touched $51.99 by 9.31%. The price felt a pullback and dropped to $46.58 by 10%. The price escalated to $52.50 in the later days by 12.71%. Further, Monero price touched $56.98 by 12.52%. The monthly movement in the coin reflected 4.47% regression.

Monero
XMR Price Chart By TradingView

If the same price trend stays, then the traders might recover from previous losses soon. The XMR coin price is at $55.44. It is likely to jump to the immediate resistance level at $56.71 in the upcoming hours.

Resistance LevelPriceSupport LevelPrice
R1$56.71S1$54.58
R2$57.47S2$53.21
R3$58.84S3$52.45

Monero has given a good return to investors in the past. The traders expect the same kind of return in the future. We are positive that the currency would improve and give a positive return. The long-term investment is recommended for interested traders.

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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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