Monero [XMR] prices are being dragged down by the constant bear pressure seen in the market. The coin has lost over $380 million in market value in a week roughly a 26% decrease. The market cap currently stands at $1.08 billion. 88% of its trading volume is handled by Bithumb exchange. The KRW/XMR accounts a major share of the coin’s trade volume. A meager 2% trade against BTC takes place on Binance.
Monero prices are battling mounting seller pressure. The current support level for the coin is found at $63.631. The crypto is trying to breach the current resistance level found at $66.917. The next resistance level for the digital currency can be traced at $71.105. The RSI indicator lies at 40.42 and is on a downward trajectory. This implies that there is a soaring seller pressure for the coin. The MACD is noted in the bearish zone. The 100 EMA line trading at $71.371 is exhibiting a downtrend. The crypto is stuck in a tight trading range spotted from $63.6 to $67.06. At press time, the coin is trading at $65.12 and is losing against USD by 5%.
The virtual currency is losing against BTC by 0.59%. Currently, one XMR is equivalent to 0.01506868 BTC.
Monero Latest Updates
- Edge wallet has added Monero bulletproofs to facilitate faster and cheaper transactions. The wallet also boasts enhanced performance following the update.
- Monero’ Riccardo Spagni, in a podcast, spoke about how Monero would still be valuable if Bitcoin adopted privacy. He also talked about Monero being used for the darkweb.
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