Monero Continues Pushing On Higher Highs Against US Dollar

Monero continues pushing on new high levels against the US dollar and there’s even a chance that the market will prolong the current range moves without a lot of changes. In our Monero news today, we can see that the XMR/USD price could even rally higher and reach the $70 mark.

As we can see from the charts, Monero continues to enter the lower highs in the market value of the XMR/USD pair. the price of the altcoin initially had lost a chunk against the US dollar and reached the $30 level. The worth of the cryptocurrency, however, continued pushing against the US dollar. The pressure of the sellers is not on a high note and there are no indications that signal a change in the XMR/USD market activity.

Based on the assumptions, there’s a huge chance that the market will go on within the current range. The 50-day SMA was crossed by the 14-day SMA underneath. The smaller SMA indicator points to the north-east direction and signifies the range price moves in the pair. The oscillators started consolidating around 80 and 60 ranges for quite some time. This adds to the confirmation of the range moving status and the traders now have to be cautious when they start exerting orders.

Ever since the XMR/USD trade set the slow-moving rebound process, there was no forceful spike that aimed to capitalize on the safety and to launch a long position. The rally of the altcoin could exist further after touching the $70 price level. In the meantime, the re-cross from the bigger SMA indicator could lead the XMR/USD pair to start trading with the previous $30 value.

As reported previously in the crypto news, a Monero documentary has been released. This was actually a documentary about the privacy coin Monero with the idea to raise money in its opening weekend. The money it raised was a couple of thousand dollars (around $3,430) making it the highest-grossing US film of that weekend for a very brief period, knowing that most cinemas are closed now. However, as the case often is with crypto, there are still some major caveats.