Monero coin may have started the year on the wrong foot; it has started early price recovery. Over the last 24 hours, it has made gain to compensate for its early quick falls. However, it is yet to come to its full potential. It is currently being traded at 46.51 USD.
Monero Price Analysis
XMR coin started the day at 45.68 USD, and over the next 13 hours, it followed a stable path and could add a meager 0.69% to lock itself at 46 USD. The next swing took 1.79 USD away and took the Monero price to the lowest point of the day at 44.21 USD by a 3.91% drop by 19:07 UTC. From there, XMR coin started its upside momentum. Going forward to the next 7 hours, it went on adding 2.31 USD and confined itself at 46.54 USD. This recovery of 5.24% was the only gaining trend Monero had on the last day.
Monero’s current price (46.51 USD) has already gotten a decent lead over its 50 days MA (46.25 USD) and 20 days MA (46.43 USD). This depicts the gradual strengthening. Over the next few days, as per XMR Forecast, we may expect a Monero price to find the resistance above 48 USD with a bullish medium-term outlook. Investors are advised to look for the golden opportunity in the long-term.
Resistance and Support Levels
R1: $46.50, R2: $47.26 and R3: $48.31
S1: $44.69, S2: $43.64 and S3: $42.88