Monero has been through decent numbers of ups and downs over the last month. XMR coin’s entry into 2020 has brought some bullish spikes in its trend. The overall gain stands at 9.05% for the last month.
Monero Price Analysis
XMR coin was traded at 54.29 USD on December 08, and over the next ten days, it took a nosedive to lose 18.13% that pulled the price down to the lowest of the month at 44.45 USD. From there, Monero’s price showed huge volatility. However, by January 03, it was placed at 51.75 USD after a 16.42% strengthening. It was followed by another stint of a hike that escalated the value to the extent of 19.92% and pushed the XMR price to the highest figure of the month at 59.87 USD by today.
Monero’s current stand (59.215 USD) is well above its both 20 days MA (57.437 USD) and 50 days MA (56.341 USD). The gap stands at 5.10% and 3.09% for the 50 days MA and 20 days MA, respectively. The placement of these figures hints an upcoming bullish turn for the currency. According to our Monero Forecast, It may find the next resistance around 60.64 USD.