Amidst a sluggish market, Monero coin seems to have been kept safe in its shell. Over the last 24 hours, its price has been raised by 1.37% to 68.911 USD. Though there is a significant amount of volatility, the overall gain has made the currency exceptional.
Monero Price Analysis
XMR coin was being traded at 67.977 USD at the starting of yesterday and over the initial 11 hours; it managed a moderate upside movement, and the price reached 69.081 USD by 1.62% hike. However, the next few hours saw a sudden fall in the Monero price. This bullish run was followed by another elevation in the value to the extent of 4.36%, and this happened between 12:26 & 21:19 UTC. This upward movement took the XMR price to the highest point of the day at 70.545 USD. However, at 21:19 UTC, the currency started weakening and lost 2.46% to touch 68.797 USD by 01:30 UTC.
Monero’s current price (68.911 USD) is lagging behind its 50 days MA (68.969 USD). However, it is trending above its 20 days MA (68.851 USD) by a slight margin. It may trade with the current momentum in the coming few hours. As per current movement, the next halting point for XMR to come by 68.15 USD, its future support.