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

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

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave A Reply