While most major altcoins are struggling to rise above selling pressures currently plaguing the market, Monero [XMR] has managed to remain in the green. The coin has risen to an impressive $120.73, which marks its highest level in over a week. The crypto has managed to see its value rise significantly in recent days, with XMR gaining 5.8 percent in the last seven days. The digital asset saw its value scale 33.3 percent higher in the last one month.
The altcoin initially found support at $113.07, after which it continued its steady climb towards the $120 mark. The digital asset experienced a very marginal break out from the current resistance level, which can be found at $119.11. The crypto is attempting to maintain its price above the $120 level.
At the time of writing, the 100 EMA line indicated that the coin was in an uptrend. The MACD showed that XMR was experiencing bullish momentum. The hourly RSI indicator is currently at 65.5, which shows that the crypto is close to being considered overbought. The token was exhibiting a significant trading range of $115.72-$119.80. As of 0726 GMT, the virtual currency had risen 3.8 percent against the U.S. dollar to trade at $119.27.
The digital coin, at the time of writing, had climbed 4.8 percent against BTC. At present, one XMR is equivalent to around 0.0184 BTC.
Monero [XMR] Price Prediction 2018, 2020
- According to Smartereum, experts believe XMR could reach $650 by the end of 2018. The crypto will likely trade at around $2,000 in five years.
- Profitconfidential believes the virtual currency could reach around $350-$400 by the end of this year.
- Longforecast expects the digital coin 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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