Monero Devalues by 3% in Past 5 Days

Fibo Quantum

Monero seems to be releasing its recent update in the development soon. Will that help in improving the credibility of the platform?

XMR to USD Price Analysis:

In the recent hours, the value of XMR was seen trading at $55.92 at 09:28 UTC as on October 9, 2019.

Monero Price Chart

Considering the price statistics from last 5 days, the value was initially seen trading at $54.34 on October 4 at 04:40 UTC. The value from then escalated by 6.22% to the highest touch point of $57.723 on the same day. The value then moved to descending movement by 6.03% on October 7 at 00:20 UTC, trading at $54.25.

The value from then escalated by 5.24% on the same day at 13:00 UTC, seen trading at $57.09. The value from then is dropped by 2.07% as of now.

XMR seems to be fluctuating in the strong bearish zone supporting ‘buying’ trade decision for the investors. It is in fact predicted that the value of XMR might drop a little more by 10% in the upcoming few days. It is a forecast algorithm for short-term prognosis.

The calculated resistance and support levels are as follows:

Resistance Levels:

R1: $56.87, R2: $57.88, R3: $58.7

Support Levels:

S1: $55.04, S2: $54.22, S3: $53.21