Monero Price Analysis: Monero (XMR) Price Escalated By 4.61% In A Day

Fibo Quantum

The intense volatility of the crypto market sphere is ravishing the abilities of the altcoin like Monero. No matter how much potential XMR has, it will suffer to a great extent as the unfavorable market condition will adversely impact its upcoming projects. Even the condition is not expected to improve before the end of this year rather; it can turn further worst.

Current Statistics of Monero:

  • Price in USD: 82.41 USD
  • Price in BTC: 0.00792710 BTC
  • Circulating Supply: 17,174,430 XMR
  • Market Cap: 1,416,419,899 USD

XMR to USD Price Comparison & Prediction:

Monero Price Prediction
Monero Price Chart by TradingView

From the above 1-day Monero price chart, it is evident that most of the time coin is trading under the baseline. On 24th August, Monero price was trading at $78.778, and today, it can attain a peak of $83.972. So, this indicates that it has high liquidity and it is highly volatile at present. Within a day, XMR price is although raised by 4.61%, it is more prone to decline down in the upcoming days as its momentum is also very unstable. Considering the above facts, we think that in the upcoming days, XMR can have a value around its resistance level of $84. And if XMR price decline down again, then it will find support at $77.68.

Conclusion:

Currently, the trend of Monero is highly volatile. One should not consider investing in the same as of now as it can incur great loses to the investors. They must wait for the right time until the volatility is reduced to a great extent.