Home Technical Analysis Will Monero Price Sustain the Steady Upward Momentum?

Will Monero Price Sustain the Steady Upward Momentum?

Monero (XMR) price has not been able to sustain its upward momentum due to market pressure. The price of XMR coin somehow managed to hold its ground in the upward range for some time yesterday, even though the coin was mostly trading under pressure most of the time. The price has been moving in the range between $68.55 – $74.79 over the past 24 hours.

Monero Price Analysis

XMR price has been mostly below the baseline, as seen from the past one-day price movement. The currency started on a low note at $68.5506 at 00:39 UTC. The coin managed a moderate upside movement and marked a hike of 1.98% at 08:11 UTC. With the bear pressure continuing, the Monero price again fell to $68.80 from $69.86 at 14:45 UTC.

Monero News

Later, the price of the XMR coin recovered to the extent of 3.22% at $70.95 at 17:14 UTC. Then, after an hour, the coin price again fell and reached $70.45 by a marginal fall. After this downward variation, Monero’s price marked a steep hike of 6.17% at 23:26 UTC and reached $74.79. Today, the currency corrected downwards to $71.55 and continues to trade in a similar range.

Monero’s price is still coming to grips with the fact that the bears are not letting it move in the upward range. Analysts are, however still positive about the ability of the coin to get back during the year when the crypto market is expected to stabilize. Current investors should continue to hold their investments as the crypto market is still very volatile.

Felicia Learned
Felicia Learned
Felicia well-known for her writing skills works as a content writer lead in our team. She also has a deep interest in forex, Finance & cryptocurrency funds and guides people dealing with a cryptocurrency exchange. She loves reading finance blogs in her free time. For any issues, you can contact her through email: felicia@forexnews.world</a.

Must Read

Dash Exhibits Upsurge to $106; Intraday Might Observe Marginal Profit

Dash (DASH) reflected strong bearish influence in yesterday’s movement. The drop was massive, but the entire market was spotted making second guesses about the...

Chainlink (LINK) Records 60% Hike in the Last 30 Days

Chainlink exhibited astounding improvement in the price over the last 30 days. In the last few days of January, the currency was trading with...

Will Binance Coin Manage to Cross $24 Under Ongoing Volatility?

Binance Coin (BNB) had not started the year on a good note but later had managed to outsmart the bear pressure at regular intervals....

Singapore-Dollar Pegged Stablecoin Added by Crypto.Com

Crypto.com becomes the first crypto platform to adopt Singapore-dollar pegged stablecoin. It has announced the addition of XSGD to its list of cryptocurrencies.    Primarily, the...

Will Chainlink Continue Its Winning Momentum for the Short-term?

Chainlink (LINK) has not been able to perform well during the start of the year due to the continual bearish pressure in the crypto...