Will Monero Manage to Sustain Current Upward Momentum?

Monero was traded at $48.76 with an upside movement as on December 17, 2019 before dropping to $46.43. After that, there was a second drop of 3.97% with the XMR price reaching $44.72 on the same day. Then, Monero coin was trading downwards and reached $44.18 which was the lowest recorded price in the last five days. XMR coin managed to recover from the dip and reached $48.26 with a 5.28% rise.

There was a marginal price drop recorded on December 19, 2019 as Monero price touched $46.14. Since then, the trend was almost stable as the currency was trading at the same pace. From $46.15, the coin dipped to $45.00 yesterday but soon recovered back, and now, it is being traded at $46.77.

Monero Price Prediction

XMR coin exhibits an upward growth of almost 4% as compared to yesterday’s price. It seems to show signs of a further rise and may be able to reach close to its next resistance $47.87. As per our trade99’s prediction, in the upcoming weeks, Monero may be traded around $48.77 and $51.

We recommend to trade XMR coins as per its movement noticed. As per MACD indicator, MACD line is well above the signal line and it shows the currency trying to rise in an upward fashion. The previous 5 days’ trend of Monero has seen many sharp rises & falls, and the performance has been uneven. As per Trade99’s analysts, short-term trading on Monero may not be that fruitful as currently, the currency shows volatile movement from past few days. Hence, to gain considerable return, Traders should invest from a long-term perspective.