At present, the whole cryptocurrency market is struggling to gain momentum. Bitcoin price has is hovering within $11k resistance, while few altcoins demonstrate positive momentum. According to CoinMarketCap, the total capitalization of all digital coins in circulation hit $322 billion.
At the time of writing, the Monero coin price has increased by 9.21% against the USD, trading at $96.03. In term of XMR/BTC, the price surged by 8.14% trading at 0.00847064 BTC.
Currently, the coin is ranking at 14th position, holding market cap $1,640,509,420 USD with $158,556,226 USD 24-hour volume and 17,082,802 XMR circulating supply.
On July 6th, the Monero coin price opened at $90.43. Ripple coin maintained its price above $90.43 for a few hours, later the coin faced a price drop reaching $89.42. Further, it struck a strong recovery while correcting gains over $89.43. Since then, XMR has remained above $90.43 except for a minor plunge at $89.42.
We can assume that Monero coin is likely to see gains and currently the price level is set to reach new support level. Also, few crypto analysts believe that a breakthrough above the price barriers of $95 and $100 can fuel rapid surge in XMR price trend.
According to Technical Indicators
- The Chaikin Money Flow is indicating a Bullish Trend. Showcasing continuous Buying Pressure, rising prices coinciding with CMF values above 0.
- The Bollinger Band is showing divergent volatility in the market.
- The Awesome Oscillator showed a bullish buying opportunity or short-term momentum in the market.
- The Relative Strength indicator has turned bullish on the one-hour time frame which is above 70 levels. Indicating over brought condition.
- The MACD indicator has turned bullish on the one-hour time frame and continues to issue a buy signal.
- The Parabolic SAR markers were below the candles and showcased a bullish market.
Recently, According to reports on July 4, 2019. Monero (XMR), a privacy-centric cryptocurrency has revealed it has successfully fixed nine bugs in its network that would have allowed hackers to steal XMR from crypto exchanges.