Andreas Townsend

1 week ago

In a really volatile crypto market, the Monero (XMR) project seems to be doing great. XMR has been recently boosted by bulls.

Yesterday, Bitcoin fell and dragged more digital assets down as well.

Monero price predictions

At the moment of writing this article, XMR is placed on the 13thposition on CMC and the privacy-oriented coin is trading in the red. XMR is priced at $62.21.

According to the online publication FX Street, “From a different technical perspective, Monero’s stalled uptrend is likely to settle in a range between $62.00 and $64.00. The Relative Strength Index (RSI) is ranging marginally below 70.”

They continue and write that “At the same time, the Moving Average Convergence Divergence (MACD) is in a horizontal direction above the zero line, in turn, signaling that the bulls have the upper hand.”

They also note that the price of XMR has been pushing for correction above the trendline support during the past two weeks.

The online publication also notes that XMR uptrend will probably settle between $62 and $64.

According to the indicator mentioned by the pubcalition, the bulls have the upper hand.

Monero gets ready for the upcoming hard fork

It’s already a known fact that Monero gathered a lot of scrutiny and attention from regulators and lawmakers all over the world.

Monero becomes the choice for more and more crypto enthusiasts due to the fact that the coin helps people overcome the double standard and will not ask anyone to validate their existence.

It has been already reported that the hard fork will introduce the new PoW RandomX.

Other than this, the Monero project has been gaining more and more interest from crypto enthusiasts who see a great choice for investment in the privacy coin.

In other news, Monero made headlines not too long ago in relation to Changelly. The exchange has been reportedly withholding users' funds.

Coins Mentioned

XMR

Monero

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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.

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