Monero (XMR) Technical Analysis: Bulls Struggle With A Key Resistance

Monero reigns as the best performer among the top 10 cryptocurrencies this week with a solid 24.48% gain against BTC and up 30.71% against the US dollar (at the time of writing). There’s been a great deal of speculation over what has caused this sudden spike in bullish activity, with the top circulating beliefs as follows:

1. Bloomberg published a recent report from Satis Group which forecasted that privacy and currency centric coins Monero, and Decred would be the ‘largest beneficiaries’ of the future crypto market.

These findings predicted that Monero would increase by a massive 38,391% over the next 10 years, above and beyond every other crypto project in the Top 10.
The report has caused a huge amount of contention across popular forums, particularly among Stellar, and communities, which have adamantly rejected this elaborate forecast.

2. Monero has a double hard fork scheduled for October 18th. According to a recent post on Reddit, the…

This article appeared first on Cryptovest

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