Home Monero Monero Breaks Above $78; Trades within Upward Channel Formation – NameCoinNews

Monero Breaks Above $78; Trades within Upward Channel Formation – NameCoinNews

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Monero’s price movement in the last 30 days is quite amazing. The coin has breached 30-days high many a time. Recently, XMR was spotted violating the 90-days high too. We are anticipating that the currency would mark marvelous momentum in the coming days.

The traders interested in the coin can dig-in with a high prospect of return. The crypto market is likely to experience price rally soon.

Monero Price Analysis

XMR/USD chart by TradingView

On January 09, Monero started trading at $58.05. In the next two days, the price escalated to $63.98 by a huge hike of 10.22%. On the same day, the XMR coin faced a steep fall of 10.45% and the price dropped to $57.70. From this price point, the currency started trading upwards and in the next 5 days, it reached $71.52 by 24.28%.

At this level, the XMR coin couldn’t hold itself for long and dropped to $64.19. The coin locked around $66 till January 22. In the next two days, Monero’s price slipped to $58.19 by a massive fall of 11.84%. After this fall, there was a tremendous upsurge observed till January 30. The price counter was at $75.22. January closed at $71 with 23.89% progression at the XMR price.

The ongoing month experienced heavy growth in the price. On the first day of February, Monero’s price was at $71.94 and in the next 6 days, the price escalated to $80.31 by 11.65%. The MACD chart of Monero is indicating the uptrend in the upcoming days. However, the current momentum is regressive but if the coin continues to trade under the bullish impact, it may cross $80 mark soon.

R1: $80.76, R2: $81.94 and R3: $83.28

S1: $78.24, S2: $76.9 and S3: $75.72

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