Sarang’s funding for research draws in 45 contributors and 417 Monero {XMR} coins

Monero is ranked at #12 to the north of Cardano on coinmarketcap. The trading volume recorded stands at roughly $106.300 million, while the supply has 17,226,111 XMR coins involved as part of circulation. For now, the total market cap of Monero amounts to $1.006 billion. XMR is priced at $58.42 in the market after a drop rate of 15% influenced it in the course of the past 24-hours.

Dr. Sarang Noether looks after research linked to privacy-based cryptography. The topics include network upgrades, simulation methods, peer review, and so on. Sarang is an independent Ph.D. researcher who resides in the United States of America.

According to the candlestick chart connected to the XMR/USD pair on tradingview [based on data obtained from Poloniex], Monero has been backed by sellers so far this week. The Awesome Oscillator peaks changed color from green to red in the aftermath of 22nd September [they lie beneath the zero line].

The daily RSI [for 14 periods] is at 29.02 as of this instant. The MACD line started falling below the signal line since 23rd September [and the gap between the duo is growing steadily]. This points to bearish activity soaring which is a good sign for potential investors looking to try their luck in this market.

A new support level was established near the $54.435 mark, and resistance may be experienced if this altcoin heads towards $83.076 [which is quite far in comparison to its current price]. If this keeps up i.e. if the bearish momentum persists, XMR may decline further towards $50.

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