Monero [XMR] Technical Analysis and Price Prediction 2018, 2020 22267
Analysis
Jessica Kuruthukulangara
Sep 4, 2018 at 12:00 AM

In a fairly mixed market with selling pressures pushing many coins into bearish territory, Monero [XMR] is outperforming. Recently, the coin saw an uptick in buying in recent days following a forecast issued by by research firm, Satis Group. According to the prediction, XMR could move up to a whopping $18,000 in the next five years. In the last week alone, XMR's value had risen close to 37 percent.

XMR/USD

Initially, the digital asset found support at $119.56, following which it was exhibiting a brief consolidation phase. However, a few hours back, the coin saw a sudden spike in its price, after which it was trading above the $130 level. If it continues its winning momentum, XMR could reach the $140 mark soon.

At the time of writing, the 100 EMA line indicated that the crypto was in an uptrend. The MACD showed that the coin was trading in the bullish zone. The digital asset was exhibiting a significant trading range of $118.87-$135.22. As of 1748 GMT, the virtual currency had climbed 10.3 percent against the U.S. dollar to trade at $133.43.

Monero [XMR] Technical Analysis and Price Prediction 2018, 2020-BCFocus

XMR/BTC

XMR, at the time of writing, had gained 10 percent against BTC. Currently, one XMR is equivalent to around 0.0183 BTC.

Monero [XMR] Price Prediction 2018, 2020

  • Profitconfidential has forecast that the altcoin could reach around $350-$400 by the end of 2018.
  • According to Smartereum, experts believe XMR could reach $650 by the end of 2018. The coin is expected to trade at around $2,000 in five years.
  • Longforecast expects the digital currency to trade in the range of $554-$638 in April 2020 and will go up to $810-$945 by December 2020.

See also: 

Ripple’s XRP to go down by 97 percent, Monero (XMR) to reach 18K mark: Research

Monero [XMR] may soon apply bulletproofs to its protocol as audits conclude

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