Monero News

Monero (XMR) Retains the Fort of $48 Amidst Market-wide Slowdown

  • Monero retains the value of around $48
  • Investors are advised to wait for some more days before selling for realizing decent returns

XMR coin has been through three major price swings in the last 24 hours, and the price has now shown any significant change in this period. Monero price is still trading around $47.63, and the range of the swings lies between $48.63 and $46.83.

Monero Price Analysis

The currency opened the day at $47.63, and its first swing happened between 00:24 and 13:08 UTC. Over these 12 hours and 44 minutes, Monero gained 3.19% value and got pushed to $48.63. It was followed by a 3.70% decline in the value that took the XMR price to $46.83 by 22:43 UTC. The last swing happened between 22:43 & 02:31 UTC, and over these 3 hours & 48 minutes, Monero gained 2.25% that added $1.05 and helped it to scale as high as $47.89.

Monero PriceThere has been a marginal increment in the market cap of XMR coin as well. Between December 23 and 24, the market cap has been increased to 829.845 million USD from 822.261 million USD.

XMR’s 20 days MA is now at $47.72, and the 50 days MA stands at $47.69. The current price of Monero is now at $47.63, which is 0.12% and 0.18% less than the 50 days and 20 days MAs, respectively. The currency may find the next halt at the resistance of $48.35 in the coming few days.

Monero (XMR) Resistance and Support Levels
1st Resistance $48.35
2nd Resistance $49.37
3rd Resistance $49.97
1st Support $46.73
2nd Support $46.13
3rd Support $45.11

Jason Palmer

Jason Palmer joined CoinNewsSpan as an editor and analyst. He has over five years of experience as a forex analyst. He holds a master's degree in business administration with specialization in finance. He is actively involved in analyzing the prevalent crypto trends. He has a keen interest in commodities and forex trading.

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