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Monero Price Prediction: XMR Has Slipped Back

The Monero price has rallied in the last few days. XMR, its native token, is trading at $ 213, which is about 20% above its weekend low. The coin is still around 60% below its peak this year. Its total market capitalization has dropped to about $ 3.8 billion, making it the 46th largest cryptocurrency in the world.

Monero is one of the largest privacy-oriented cryptocurrencies in the world. It’s popular for its privacy features that make it impossible to track transactions. However, while Monero is a popular currency, it was a relatively terrible investment. For example, it has already lost more than 60% of its value since May. At the same time, its ranking among cryptocurrencies has dropped to around 46.

It’s not clear why Monero and other privacy coins like Dash underperformed. This is likely because these coins are usually relatively unsexy. For example, Monero rarely makes it into the news like other coins like

Monero price prediction

Like all cryptocurrencies, the XMR price plummeted over the weekend. It fell to a multi-month low of $ 175. However, this week it has rebounded by more than 20%. On the 4H chart, it’s between the 23.6% and 38.2% Fibonacci retracement level. It has also moved above the major resistance level at $ 205. It also tries to move above the 25 and 50 day averages.

Hence, Monero price is likely to continue rising as the bulls target the main resistance at $ 250. On the other hand, if the price drops below $ 200, this view will be invalidated.

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