The crypto market is under heavy pressure. However, few coins are trying hard to improve the movement. Monero is among the same group of coins that are struggling to keep up in the bearish market.
As per yesterday’s statistics, the currency traded the entire day around $47.5. The hold on the price was quite impressive. As per the market expert’s Monero predictions, we are still hopeful that the XMR coin might close with a positive digit.
Monero Price Analysis
Yesterday, Monero started dealing at $47.54. The currency dropped to $47.35 by 0.38%. The currency escalated to $48.27 by 1.94%. The price couldn’t hold itself at the same level and dropped to $47.60 by 1.44%. The price improved and touched $48.71 by 2.47%. Monero price slipped to $47.54 by 2.41%. The XMR coin moved to $48.20 but again dropped to $47.07. The coin closed the day at $47.38. The day-long movement brought 0.33% regression in the price of XMR coin. Today, the currency began with an escalation and the price counters moved from $47.38 to $47.96 by 1.22%. The price dropped tremendously to $46.31. The price improved and traded to $47.85 by 3.34%.
The current price of Monero is $47.73. A few hours ago, the currency was dealing below the immediate support level, but now the price is moving towards the immediate resistance level $48.36. In the coming hours, there is a strong possibility that the level would be breached.
| Resistance Level | Price |
| R1 | $48.36 |
| R2 | $49.37 |
| R3 | $49.98 |
| Support Level | Price |
| S1 | $46.74 |
| S2 | $46.13 |
| S3 | $45.12 |
We would recommend the traders interested in Monero to go for the long-term investment. The same would ensure a massive profit for the investors.