Currently, the entire cryptocurrency market is struggling to gain momentum. Bitcoin price is hovering within $6k resistance, while few altcoins demonstrate positive momentum. According to CoinMarketCap, the total capitalization of all digital coins in circulation hit $179 billion.
At the time of writing this, the Monero coin price has increased by 10.21% against the USD, trading at $43.51 USD. In terms of XMR/BTC, the price surged by 1.14% trading at 0.00674729 BTC.
Currently, the coin is ranking at 14th position, holding market cap $761,194,987 USD with $140,286,426 USD 24-hour volume and 17,495,098 XMR circulating supply.
On Monday, the XMR/USD fell from $41.295 to $38.32. The RSI indicator has risen up from 34.10 to 42.38 following today’s bullish price action.
The XMR/USD bulls entered the market as the price increased from $38.32 to $44.10. Moreover, they managed to completely overcome Monday’s price fluctuation, wherein XMR/USD fell from $41.295 to $38.32.
According to the Elliott Oscillator and MACD indicator both show increasing buyer sentiment. The RSI indicator has risen up from 34.10 to 42.38 following today’s bullish price action. XMR/USD daily price is currently trending in an upward channel formation. However, if the buyers want to continue the bullish trend, they need to break past resistance at the SMA 20 curve.