Buy
Sell
Name Symbol Market Market Cap ($) Algorithm
Ethereum ETHUSD Crypto 154,740,729,308 Ethash
  Price Change Price Change % Current Price Bid Price Offer
  -18.78 -1.45% 1,275.82 1,275.58 1,275.74
High Price Low Price Open Price Prev. Close 52 Week Range
1,302.00 1,270.86 1,295.61 1,294.60 880.00 - 4,784.50
Exchange Last Trade Size Trade Price Currency
BSTP 13:50:08 2.00 1,270.30 USD
Price x Volume Volume Base Symbol Related Pairs
217,024,370.20 168,715.71 ETH ETHEUR ETHGBP ETHBTC

Monero Faces Pressure In Keeping Upward Pace – Will XMR Overcome Resistance?

10/08/2022 7:00pm

NEWSBTC


Monero has its hands full trying to keep its momentum and rally forward. But, it must first overcome obstacles. As do other tokens. The token is trying to keep up with the upward tilt. Remarkably, XMR price is trying hard to recover and keep up with the pace but it seems XMR is doing a great job as it’s currently on the green and winging it. The daily price chart shows that XMR price is trying to soar upwards. Monero is gaining strides as it shoots up close to the top trendline of the channel. In order for XMR to rebound or go through the target resistance, the coin must maintain its current pace in terms of price. Related Reading: SOL Fails To Notch New 60-Day Peak, Despite Recent Advances Monero (XMR) Price Surges 4.33% For XMR to shoot hoops at a bullish pace and breach the ascending parallel channel, the XMR bulls must push through its upward movement. However, it seems the bears are attempting to weaken the XMR market. With a frail market, it is challenging for XMR and other cryptocurrencies to recover. XMR investors must hold it off until such time that the bulls can maneuver and maintain the current position found at the top trendline of the ascending parallel channel. According to CoinMarketCap, Monero price is currently trading at $167.68 or showing off an increase of 4.33%. Trading volume was seen to drop by 6.88% as depicted in the intraday trading session. As of press time, bears try to drag the token towards the lower trendline of the ascending channel. Related Reading: CryptoDickbutts NFTs Erect Nearly 700% In Daily Sales Volume Bulls’ Accumulation Pivotal For XMR Price Rally It would need more buyers for XMR price to leap quickly closer to the top trendline of the channel. But, the volume change also indicates that boosting the bulls’ accumulation is pivotal for XMR price to surge. For XMR to show significant recovery on the daily price chart, XMR price must move closer to the upper trendline. The daily price chart for XMR price shows the formation of a rising parallel channel. More so, the technical indicators for Monero show the token’s downward trend in terms of momentum. RSI at 58 also shows a downward movement for XMR which is gearing close to a neutral zone. MACD is showing the downward movement of XMR as it glides under the signal line following a failed crossover. Hence, XMR investors will need to wait on the sidelines for any changes on the daily chart. XMR total market cap at $3.02 billion on the weekend chart | Source: TradingView.com Featured image from The Market Periodical, Chart from TradingView.com

1 Year Ethereum Chart

1 Year Ethereum Chart

1 Month Ethereum Chart

1 Month Ethereum Chart
Your Recent History
COIN
ETHUSD
Ethereum
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20221201 13:50:19