Monero News

Monero Fails to Gain Back its Efficiency; Trades Around $53

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Monero was trading at $54.17 on October 19, 2019, holding a downward trend then. The next day it was being traded at $54.03, post which XMR started to gain some pace and rise upwards.  Within a day’s time there was a growth of 9.18% with the price reaching $59.00.

On October 22, 2019, the trend continued to be bullish with XMR being traded at $58.52. However, post this i.e. since October 23, 2019 the coin has started to recede and while writing this price comparison, XMR was indicating a downtrend.

Monero Price Analysis:

Monero to USD Price Chart

Monero indicates a bearish run of 8.67% when compared to the trading price of October 22, 2019. The same movement seems to continue, as analyzed from the present momentum and trend.

Today, XMR is expected to be traded in the range of $52–$54. As per the present movement, investors can use their discretion as to making investments or going short. The MACD indicator shows a bearish crossover though. The RSI of the coin is slightly around 40, showing no extremities at present. XMR has got very good potential and can be considered a long-term investment option as it can fetch good returns.

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