Monero is a high potential coin in the crypto market. The traders have great expectations from the currency. The recent pullback pressure has affected the momentum of the coin. However, in the previous 24 hours, the same has been spotted improving. XMR coin struggled out of the heavy pressure by keeping the price locked around $78.
Monero Price Analysis
Yesterday, Monero coin was trading at $77.94, and then, it escalated to $78.86 but soon, the price fell to $77.50. XMR price jumped to $78.64 and again dropped to $76.67. The fluctuation lightened in the later hours. The currency touched $78.56 at 03:22 UTC and then slipped to $76.67 at 06:25 UTC. The price jumped to $78.83 in the next two hours. Monero price dropped to $76.30 at 3.22% and then it escalated to $78.83 by 3.31%. After the upward move, the coin price dribbled to $75.70.
Later, the XMR coin price escalated to $78.87, and in the next few hours, the price again dropped and reached $75.10. The closing hours took Monero price to $77.17 by 2.76% and the day ended at $76.25. The day-long movement brought 3.22% fall in the price.
Today, Monero coin price jumped to $79.35 by 4.72% hike, and later, it dropped to $77.26 but the coin picked up the pace again and surged to $78.69. The current MACD chart is indicating that the coin may trade upwards in the upcoming hours. The same could bring recovery. The coin has violated the immediate resistance level. The possibilities of breaching the next resistance level at $80.53 are quite ripe.