Last week, Monero made the list of double digit gainers. This week, the reverse is the case. The price of Monero (XMR) has fallen significantly below the USD and below Bitcoin. There was an ascending triangle on the price chart last week that took the price of Monero (XMR) high toward $151. The price has fallen significantly but the week isn’t over yet and an uptrend might still be possible. The price of Monero was able to break the distribution territories that formed at $130, $120 and $110 last week. Strong bullish candles were formed encouraging a surge in price. The 50-day EMA fell below the 4-day EMA.
Monero (XMR) Price Today – XMR / USD
The price surged with the formation of strong bullish candles. The price moved from the 50-day EMA suggesting that an upward movement is possible even with the bearish wave. Sometimes, a bearish pullback is necessary for the accumulation of more gains. If Monero (XMR) is able to break the $151 distribution level, it will pave the way for more gains above $184. Hopefully, before the end of the week, it will start trading in green once again. This is according to the price analysis of Andreas Townsend on OracleTimes.
Monero (XMR) Price Analysis Now
At the time of writing, Monero (XMR) was trading at $109.93. This indicates a 13.87% fall against the USD and a 5.26% fall against Bitcoin. The next few trading sessions will determine if the price action of Monero will change in favor of the bulls or if the bears will keep dominating. The total trading volume within a 24 hour period is about $57,825,348 while the market capitalization is around $1,800,902,542. According to the data on CoinMarketCap, the current circulating supply of Monero is 16,382,645. Will Monero survive the storm? Or will the most privacy centric cryptocurrency in the market fall until there is nothing left to lose?