Monero (XMR) up 8%, Sets its Eyes on $52 as Crypto Markets Stagnate

In Brief:

  • The major cryptocurrencies of Bitcoin, Ethereum and XRP are experiencing sideways movement. 
  • Only Monero (XMR) is exhibiting noteworthy gains in a 24-hour period. 
  • The privacy coin is up over 8% in a day and has its eyes set on the $52 resistance area.

In an earlier article, Ethereum World News reminded the crypto trading community that the CME Bitcoin futures expire tomorrow, Friday 27th March. In the piece, we explored how Bitcoin was having a hard time breaking the $6,900 resistance zone. The King of Crypto is currently experiencing sideways movement at its current value of $6,600. Further looking at Ethereum, $140 has proved to be a difficult resistance to break and ETH is currently trading at $135. Scrolling down Coinmarketcap.com, we find that our favorite privacy coin of Monero is leading the pack with 24-hour gains of 8.35%. XMR is currently trading at $49 and looks set to explore the $52 resistance area.

Monero (XMR) up 8%, Sets its Eyes on $52 as Crypto Markets Stagnate 17
XMR compared to the top 3 cryptocurrencies. Source, Coinmarketcap.com

Brief Technical Analysis of Monero (XMR)

When we analyze the 6-hour XMR/USDT chart courtesy of Tradingview.com, we find the coin’s current price of $49.80 at the time of writing this, is above the 50 (white) moving average and has the 100 (yellow) moving average as a short term resistance. The latter also coincides with a resistance zone that begins around $52.

Monero (XMR) up 8%, Sets its Eyes on $52 as Crypto Markets Stagnate 18
6 Hour XMR/USDT chart courtesy of Tradingview.com

Looking at the 6-hour MACD and Bollinger Bands, we see that XMR/USDT has the potential to break this resistance albeit momentarily. $52 might just be a local ceiling for the privacy coin. Also to consider is the aforementioned effect the CME bitcoin futures have on the entire crypto markets. With less than 48 hours before their expiry, it might be a wise decision to walk away from longing Monero and wait for more favorable conditions.

Coinbase 2

(Feature image courtesy of Brad Barmore on Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

Monero (XMR) up 8%, Sets its Eyes on $52 as Crypto Markets Stagnate 1
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 42,766.00
ethereum
Ethereum (ETH) $ 2,993.63
tether
Tether (USDT) $ 1.01
cardano
Cardano (ADA) $ 2.12
binance-coin
Binance Coin (BNB) $ 361.92
xrp
XRP (XRP) $ 0.93723
solana
Solana (SOL) $ 138.88
polkadot
Polkadot (DOT) $ 28.85
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.209825
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 42,766.00
ethereumEthereum (ETH)
$ 2,993.63
tetherTether (USDT)
$ 1.01
bitcoin-cashBitcoin Cash (BCH)
$ 539.00
litecoinLitecoin (LTC)
$ 160.59
bitcoinBitcoin (BTC)
36.471,40
ethereumEthereum (ETH)
2.553,01
tetherTether (USDT)
0,861341
bitcoin-cashBitcoin Cash (BCH)
459,67
litecoinLitecoin (LTC)
136,95
bitcoinBitcoin (BTC)
31,124.07
ethereumEthereum (ETH)
2,178.69
tetherTether (USDT)
0.735054
bitcoin-cashBitcoin Cash (BCH)
392.27
litecoinLitecoin (LTC)
116.87

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin42,880 2.21 % 9.18 % 5.01 %
Ethereum3,020.0 3.78 % 8.61 % 8.52 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Cardano2.140 4.84 % 4.74 % 11.48 %
Binance Coin364.07 2.75 % 10.27 % 9.18 %
XRP0.9385 4.15 % 8.37 % 12.18 %
Solana139.86 4.01 % 7.00 % 17.38 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.20 % 0.13 % 0.06 %
Dogecoin0.2108 3.22 % 8.57 % 11.08 %

bitcoin
Bitcoin (BTC) $ 42,766.00
ethereum
Ethereum (ETH) $ 2,993.63
tether
Tether (USDT) $ 1.01
cardano
Cardano (ADA) $ 2.12
binance-coin
Binance Coin (BNB) $ 361.92
xrp
XRP (XRP) $ 0.93723
solana
Solana (SOL) $ 138.88
polkadot
Polkadot (DOT) $ 28.85
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.209825