Andreas Townsend

8 months ago

Most crypto price predictions in the crypto space have been quite bullish lately, and it seems that the forecast for Monero maintains this trend.

XMR long-term outlook seems to remain in a bullish trend.

XMR bullish trend

The pullback by the bears have pushed the digital asset down to $50.37 in the demand area back on March 26, and this formed a confluence for a bullish return, as the experts from Bitcoinexchangeguide put it.

The online publication continues and writes that the demand area was the 61.8 fib area, a trend reversal zone.

“The tweezer bottom was formed around this area, while the 50-EMA serve as a support for the bulls returned. $55.49 in the supply area was the high of the week as the bulls sustained the pressure in this new week with a bullish engulfing candle.”

They continuer and write that the stochastic oscillator is pointing up a 76% an indication of upward price movement in the long-term with $60.94 in the supply area.

This is the bulls' target for this week. We’ll have to wait and see what happens.

Monero in the news after the hardfork

Monero has been recently making headlines a lot, especially after its long-awaited hardfork which was basically a success.

The privacy features of the coin have been improved, and there were also reported other effects.

The hardfork was supposed to take place in the next few months, but it has been advanced due to the dominance of ASIC miners on the Monero network.

The great thing is that following the hardfork, the dominance dropped by about 80%, as reported by data coming from 2miners.

Binance Research’s report said that the addition of dummy-encrypted payment ID, “made it harder” to discover the origins and destination of a transaction.

Monero and other privacy-oriented coins have been also gaining more and more popularity lately and of course, the main reason is enhanced privacy.

At the time of writing, XMR is trading in the green and the coin is priced at $57/.68

Coins Mentioned

XMR

Monero

Leave a Reply

Your email address will not be published. Required fields are marked *

Icon
1xBit

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
Nitrogen Sports

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
7bitcasino

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
BitStarz

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
FortuneJack

Lorem Ipsum is simply dummy text of the printing and typesetting industry....

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Trending news

Binance

Trending news

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Top Sportsbook
Icon
1xBit

4.03

Read Review - Website

Icon
Nitrogen Sports

4.73

Read Review - Website

Icon
SportBet.io

4.60

Read Review - Website

Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

1243 Articles
7255 Followers