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.

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.