Monero is currently priced above $68 on CoinMarketCap, and it tested the $73 level.
It seems that the digital asset is correcting lower, but it’s also likely to regain bid tone versus the US dollar and BTC in the coming sessions according to the latest analysis.
During the past few days, the price of XMR broke the $70 level and traded towards the $73 level as well and later there was a downside correction below the $70 level.
Monero could soon test the $80 level
Blokonomi reports that there’s a key bullish line that has been formed and it has support near the $67 level on the 2-hour chart.
The online publication writes that “The trend line coincides with the 50% Fib retracement level of the recent wave from the $62.25 low to $73.00 high.”
They say that if the XMR price dips even more, it is likely to find buyers near the $67.00 level.
“The next key support is at $65.000 if XMR buyers fail to hold $67.00. On the upside, a break above the $73.00 swing high will most likely clear the path for a test of the $80.00 level,” the online publication concludes.
Bullish Monero price predictions
There have been more XMR price predictions this year and most of them seem to follow a bullish trend.
The most recent one was made by the online news publication CryptoNewsZ.
They have been saying that “the long forecast predicts that the price of XMR would rise to 554- 638 USD by April 2020 and further increase to 810-945 USD by the end of the year.”
Other than this, the crypto market is reportedly expecting a flood of $3 billion sometime in the near future.
We reported that this huge amount of money is ready to flow into the market and pump Bitcoin (BTC), XRP, Monero, and all the other digital assets, according to the latest reports coming from eToro senior market analyst Mati Greenspan.