Monero Price has been recording positive strides

Monero Price has been recording positive strides

At present, Monero (XMR)’s popularity is on the rise following the potential of the privacy-oriented crypto asset that is proving to be a viable future investment for traders and investors. Monero has a massive following in China’s city of Bangkok. "Monero Price has been recording positive strides"

Monero Price has been recording positive strides

According to crypto analysts, following its positive trends in the last few weeks, Monero might be on its way towards an upsurge that might see the crypto cross the 100 US dollar mark soon.

According to the current price statistics, a bullish trend might be on the offing for the number 10 ranked crypto that is currently valued at about 87 US dollars. According to the latest price statistics, Monero might cross the 90 US dollar value by the end of today. If the crypto continues moving with its current momentum, its price might pass the 95 US dollar and 97 US dollar value next week heading towards bigger goals.

Monero’s XMR gained 2.35% on Tuesday. Following on from a 2.41% rise on Monday, Monero’s XMR ended the day at $75.26.



A relatively range-bound morning saw Monero’s XMR fall to a late morning intraday low $73.18 before finding support from the broader market.

Holding well above the first major support level at $70.71, Monero’s XMR rallied to an early afternoon intraday high $75.79.

Monero’s XMR came up against the first major resistance level at $75.51 before easing back to $74 levels.

A late move back through to $75 levels saw Monero’s XMR come within range of the first major resistance level at $75.51.

For Monero’s XMR, the extended bearish trend formed at late April 2018’s swing hi $298 remained intact. The July xmr price falls back through the 23.6% FIB of $99, reaffirmed the extended bearish trend, following 15th December’s swing lo $37.18.

At the time of writing, Monero’s XMR was down by 1.95% to $73.79. A bearish start to the day saw Monero’s XMR fall from an early morning high $74.97 to a low $73.61.

Steering clear of the major resistance levels, Monero’s XMR tested the first major support level at $73.7 early on.

Monero’s XMR would need to move back through to $74.7 levels to take a run at the first major resistance level at $76.31.

Support from the broader market would be needed, however, for Monero’s XMR to break through Tuesday’s high $75.79.

Barring a broad-based crypto rebound, Monero’s XMR will likely struggle to break out from $74 levels.

Failure to move back through to $74.7 levels could see Monero’s XMR fall deeper into the red

A slide back through the first major support level at $73.7 would bring the second major support level at $72.13 into play.

Barring a crypto meltdown, however, Monero’s XMR should steer clear of sub-$70 support levels on the day.

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