Can XMR deliver Again: Monero Crypto Price Prediction

Swing Traders: can trade the Channel, enter near channel support of $146-$150, with +20% upside potential to $180. Stop Loss (SL) at $134 (below prior swing low). 

Trend Traders: wait for price to breakout out of the Sideways Channel, above the $180 resistance to signal continuation of Uptrend, with +10% potential upside to $200.

XMR was delisted on OKX and Binance in February, which lead to the big gap down. However, recently, Coinbase has relisted XMR on its exchange.

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XMR Crypto Price Analysis

• Current Price: $150.91
• Market Cap: Approximately $2.76 billion
• 24h Trading Volume: Around $50.6 million
• Total Supply: 18.15 million XMR
• Circulating Supply: 18.15 million XMR

Price is trading in a Sideways Channel , which is a neutral pattern (indication of market indecision). Trend Traders ought to wait for a breakout in either direction, although typically it breaks in the direction of the existing trend. Swing Traders can trade the range – Buy near Support and Sell near Resistance.

Weekly Price Analysis

• 7-Day Price Change: -3.1%
• Week Open Price: $155.74
• Week High Price: $158.62
• Week Low Price: $148.94
• Trend: Short-term trend is Down, Medium-term trend is Down and Long-term trend is Strong Up.
• Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
• Support and Resistance: Nearest Support Zone is $116.00. Nearest Resistance Zone is $180.00, then $200.00.

Technical Indicators

• RSI (Relative Strength Index): 47.8, indicating a neutral market.
• MACD (Moving Average Convergence Divergence): Slightly bearish, with the MACD line below the signal line.
• Bollinger Bands: The price is currently trading near the lower band, suggesting potential oversold conditions.

News Roundup

• Delisting from Binance: Monero is among the 15 coins scheduled for delisting from Binance on September 2, which may affect its liquidity and trading volumes.
• Privacy Concerns: Monero continues to be a top choice for privacy-centric users, though regulatory pressures on privacy coins remain a challenge.

Conclusion

Monero’s price is currently in a consolidation phase, with slight bearish tendencies as reflected by the MACD and its position within the Bollinger Bands. The upcoming delisting from Binance could lead to increased volatility, though Monero’s robust privacy features may continue to attract users.

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