Monero was once among the top ten cryptocurrencies in the market. The coin experienced a heavy plunge in the third quarter of 2019. The same remained locked till the year ended. The fresh year began with an upside movement. The market pressure created a roadblock in the way and thus, the price slipped.
The intraday traders can still hold the hope of a profitable closing. The future of the coin is speculated to be good. The investors can dig-in with a high prospect of profit.
Monero Price Analysis
Yesterday, Monero started the day at $45.93. The price escalated to $46.11 by a marginal hike of 0.39%. The currency slipped to $45.64 by 1.03%. The coin locked around the same level for some time. The price escalated to $46.13 but couldn’t hold for long and dropped to $44.71 by 3.11%. There was a slight improvement in the price that took it to $45. Monero price dropped again, and this time to $44.50. The coin closed the day at the same level. The intraday movement in XMR reflected a 3.10% fall in the price. Today, Monero began with an escalation. The price jumped to $45.84. The upsurge was marked as 3.03%. Recently, the price dropped to $45.36 by 1.05%.
Monero coin was spotted trading around $45.84 a few hours ago. The coin was quite near the immediate resistance level. However, the coin couldn’t breach the same and dropped to $45.36. The possibility of revisiting the immediate resistance is quite high. The intraday traders can expect a profitable closing.
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XMR coin is suggested for long-term investment. The desired result is anticipated to be gained during the same period.