Though most major altcoins were trading in the green, Monero [XMR] was definitely outperforming. Bulls are increasingly betting on the coin, which gained over 15 percent on Friday.
Sentiment was boosted by a recent forecast of the crypto’s price 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 one week, the digital asset saw its price swell by 25.2 percent against the U.S. dollar. However, in the last one month the crypto slid 7.2 percent.
XMR is gaining steam, after it found support at $102.89 earlier in the day. The crypto experienced a break out from the first resistance level, noted at $109.76. The digital asset looks set to hit the $120 mark, if it can maintain its bullish momentum.
At the time of writing, the 100 EMA line showed that the coin was in an uptrend. The MACD indicated that XMR was firmly placed in the bullish zone. The crypto was exhibiting a significant trading range of $102.64-$117.19. As of 2315 GMT, the virtual currency had surged 14.4 percent against the U.S. dollar to trade at $116.65.
The digital asset, at the time of writing, had climbed 13.1 percent against BTC. Currently, one XMR is equivalent to about 0.0166 BTC.
Monero [XMR] Price Prediction 2018, 2020
- 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.
- Profitconfidential has forecast that the altcoin could reach around $350-$400 by the end of 2018.
- 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.
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