Monero Performs Bullish Movement – Next Resistance At $60

Monero performs a bullish momentum indicating an uptrend and it is now trading at $56.38. The XMR coin was priced at $53.889 back on October 15, 2019, and on the same day due to the drop in price, it reached $51.797 as we read previously in the XMR news.

In the next two days, Monero’s price started to increase and it was being traded at $60.542 on October 17^th and there was a slight growth of more than 16 percent within 2 days of the fall in price. Over the next day, it was being traded at the price of $58.408 and $58.502 despite the interim falls. The XMR coin also managed to get some pace and the movement was certainly on the upward side. Monero performs an uptrend movement today as well by almost 5 percent as compared to the price of October 19, 2019. The same momentum may develop further for some time but it also may be traded in the range of $55 and $57 today.

As per the present movement, users are able to purchase XMR coins to gain considerable returns in the near-term. The Chaikin Money indicator also points out that Monero is reflecting an uptrend. It’s maybe the best to trade from the long-term as it can reach as high as its 30-day high of $74 by the end of 2019. In the same situation, the traders should consider following multiple levels and avoid further losses in the intraday trading. As we reported previously, as the best performer of the past seven days, this altcoin rose from the recent lows and indicated that the bulls are using the fall to buy. So, XMR is possibly ready to turn around very soon. According to analysts on Twitter, the Monero news and charts this Monday indicate a rise of 3.86% which is a major driver right now for the price of Monero (XMR). The XMR/USD pair also continues to slide inside a falling wedge pattern.

The cryptocurrency dropped more than 89 percent from the all-time high of more than $500 which is where XMR was in 2017. The market cap of the altcoin is currently standing at $965 million making it the 14^th cryptocurrency by market cap with a $26.34 million in trading volume over the past 24 hours.