Monero Price Analysis – XMR coin showing bullish Trend

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. 

What’s your Monero Price prediction for 2019? Will XMR price cross $100k in coming days? Share your views on our Facebook and Twitter page 

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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