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 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.

Must Read

Forex-Dollar Dips Further as Fed Doubts Resurface

The US dollar witnessed a further slip on Monday, after recording its most significant weekly gain in over two months last week, as profit-taking...

Newly Announced Covesting Feature Helps Traders Book More Profits

Covesting, the European DLT developer known for their B2B software solutions and partnership with PrimeXBT, has announced a brand new feature within the Covesting...

4 Easy Steps to Master the Art of Trading

Newcomers should develop some basic knowledge about the market so that they can be able to take the right step in the right position....

Building Healthy Money Habits in the Trading Profession

Trading has become a global profession in contemporary times. People are becoming more self-conscious about money as the world has fallen due to the...

IOTA Coin – Future and Predictions

Introduction to IOTA Coin IOTA is a dispersed ledger structured to record and implement transactions between machines and devices on the Internet of Things (IoT)...