It's time to trade: as hardwork Monero impact on the price of cryptocurrency?
Source:
Since the last hard forks Monero has been more than 36 hours. The situation in the chart cryptocurrency has not changed much, but the bulls have a chance to break the nearest resistance zone. Upgrade network XMR laid a good Foundation for the growth of the asset in the long term. Aggressive traders can enter a trade at market price with a stop loss just below $ 90.
theLatest news
Monero is one of the most famous and the most liquid coins, sharpened on anonymity. This status gives the cryptocurrency popularity and it is unlikely to ever lose his title. The Monero team Labs is constantly working on improvement of their project. Judging by the number of commits in Github, Monero is one of the «active» coins on the stock market.
Approved Last main mission of the project is to provide the maximum of anonymity and to avoid the centralization of the network using the resistance -mining. By updating Bulletproofs blockchain cryptocurrency has now become easier and faster. The developers managed to optimize the transaction size for optimal adding blocks.
theTechnical analysis
On 1-week chart of the asset within the horizontal channel. The channel lines are good entry levels for trading positions. While familiar to a more global bullish trend may be crossing main resistance zone of $ 150. In this case, the growth Monero will stop only 300 dollars.
image Source — NewsBTC
However, do not forget about market cycles. Most likely, the XMR will stay in the stage of accumulation for quite a long time.
1-daily chart the situation is quite ambiguous. After a failed attempt to generate a local uptrend Monero fell back a little lower and continues sideways movement.
image Source — NewsBTC
The Bullish scenario remains in force if the asset will be able to hold above one hundred dollars quite a long time. Otherwise, the bears will be able to push the price down to $ 75.
The Analysis of graphs carried in . More promising altcoins, you can always find in our .
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