In this Monero technical analysis, we will examine the current price action, trading volume, key levels and indicators for XMR-BTC. Monero is a privacy-focused digital currency that utilizes advanced cryptographic techniques to ensure the anonymity of its users. Its unique features include ring signatures, zero-knowledge proofs, and stealth addresses, which make it an attractive option for those seeking enhanced financial confidentiality. With a decentralized governance model and a strong developer community, Monero continues to evolve and improve with each new update.
Monero Price Overview:
As of December 05, 2023, Monero is trading at approximately 0.00394 BTC. Let’s dive into the detailed price action for XMR-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00407 |
| High (H) | 0.0041 |
| Low (L) | 0.00388 |
| Close (C) | 0.00394 |
| Volume (C) | 26,533.58 |
- Open (O): The opening price for today’s trading session was approximately 0.00407 BTC.
- High (H): Monero reached a daily high of around 0.0041 BTC.
- Low (L): The daily low for XMR-BTC was approximately 0.00388 BTC.
- Close (C): At the time of analysis, Monero is trading near its daily close of 0.00394 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.05% |
| 3D Change (%) | -9.94% |
| 7D Change (%) | -11.18% |
| 30D Change (%) | -18.47% |
| 90D Change (%) | -28.61% |
| YTD Change (%) | -55.75% |
Over the past three days, XMRBTC has decreased by approximately -9.94%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -11.18%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with XMRBTC maintaining a downward trend of approximately -18.47%, despite intermittent fluctuations. Examining the last 90 days, XMRBTC has witnessed substantial drop of approximately -28.61%, reflecting strong long-term confidence. Year-to-date, XMRBTC has steadily decreased by around -55.75%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Monero Live Chart:
You can access a live price chart for XMR-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.39187.
- Momentum score is -0.18473.
XMR BTC Technical Analysis
Monero Trading Volume:
The trading volume for Monero (XMR) over the past 24 hours has been insignificant, with approximately 26,533.58 BTC traded against XMR. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): XMR is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Monero is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for XMR-BTC is currently in the low zone, around 34.03685. This suggests that Monero is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Monero (XMR-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Follow potential bearish trend for Monero (XMRBTC) at 3.94e-03 BTC with technical analysis, indicating cautionary indicators and weakened support.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.