Monero [XMR] remains range bound between $43 and $45 as market registers marginal gains
The cryptocurrency market is showing a relative calm and stability which is generally not associated with the crypto space. The total market cap of the crypto industry stands at $112 billion which is well below the psychological barrier of $120 billion and Thursday saw marginal movements with most of the top 20 coins trading in the green. The leader of the pack, Bitcoin is still being in the bearish trade zone. Yesterday the coin was range bound above the $3400 level. The coin has not moved a great deal in the past 24 hrs and is currently trading at $3,421.24, up by 0.31 percent. XMR is up by 1.53 percent and is trading at $43.37. The total market cap of the coin stands at $0.727 billion and it has registered a 24-hr trading volume of $45,592,367.
If we take a closer look at the chart, we will find that coin is range between levels $41 and $44. The price of the coin is following a sideways trend and it has been range bound for the last seven days. The digital asset has found support at $42.4900 and at the time of print, it is trading well above it at $43.22. The key resistance level for the coin stands at $45.990 and it will take some time before the coin breaches it. The hourly RSI indicator stands at $64.9254 which suggests that the coin is fast approaching the overbought territory. The MACD shows that the coin is in the bullish zone and the 100 EMA line shows an upward trend.
At the time of print, XMR is up by 1.22 percent and one XMR is equivalent to 0.01267639 BTC.
According to a new research report, Monero [XMR] is the favorite cryptocurrency among cybercriminals in underground economies such as Pay-Per-Install services. As per the report, 4.32% of Monero has been lost to illegal crypto mining by the underground economies. The miners have made approximately $57 million from illicit Monero mining.
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