Monero Is Making Its Way in The Right Direction Again

The market condition has no improvement yet, but as fluctuations are inevitable in the price trend of cryptocurrencies, the same picture is noticeable in the case of Monero coin too. It had aggravated too deep in the bearish zone from where it picked up its momentum and is currently trading in the uptrend.

Monero Price Analysis

From the 1-day Monero chart, it is evident that XMR has made a good turnaround within 24 hours only. Although, this picture will not be the same in the upcoming days as of the high volatility of the crypto market. Yesterday only, Monero coin got trade at 80.156 USD, but today, it rose to a peak of 85.098 USD. Its momentum towards the upward trend is currently steady. The pivot value for XMR coin is 81.64. Based on that, its first resistance is 87.95 USD. Accordingly, its support level is 77.77. Based on its resistance, it is understandable that it is on its way to cross this value if the market condition permits.

Thus, it is seen that currently Monero coin is trading higher, but the market condition still very unfavorable, it can make the same drown at any time. It is better to be vigilant regarding Monero’s price trend. One should not consider any sort of investment currently on XMR.