XMR USDT Monero Technical Analysis

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By Frans van Elst

Monero logo In this Monero technical analysis, we will examine the current price action, trading volume, key levels and indicators for XMR-USDT. Monero is a privacy-focused cryptocurrency that utilizes advanced cryptographic techniques to ensure the anonymity of its users. Its unique features include ring signatures, zero-knowledge proofs, and stealth addresses, making it an attractive option for those seeking enhanced financial privacy. 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 May 12, 2024, Monero is trading at approximately 118.7 USDT. Let’s dive into the detailed price action for XMR-USDT:

Follow potential bearish trend for Monero (XMRUSDT) at 118.70 USDT with technical analysis, indicating cautionary indicators and weakened support.

Metric Value
Open (O) 112.4
High (H) 119.6
Low (L) 110.4
Close (C) 118.7
Volume (C) 7,079.92
  • Open (O): The opening price for today’s trading session was approximately 112.4 USDT.
  • High (H): Monero reached a daily high of around 119.6 USDT.
  • Low (L): The daily low for XMR-USDT was approximately 110.4 USDT.
  • Close (C): At the time of analysis, Monero is trading near its daily close of 118.7 USDT.
Metric Value
1D Change (%) 5.51%
3D Change (%) -2.14%
7D Change (%) -7.12%
30D Change (%) -24.68%
90D Change (%) -27.22%
YTD Change (%) -28.02%

Over the past three days, XMRUSDT has dropped by approximately -2.14%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -7.12%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with XMRUSDT maintaining a downward trend of approximately -24.68%, despite intermittent fluctuations. Examining the last 90 days, XMRUSDT has witnessed substantial drop of approximately -27.22%, reflecting strong long-term confidence. Year-to-date, XMRUSDT has steadily dropped by around -28.02%, 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-USDT 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 1.58828.
  • Momentum score is -0.25951.

XMR USDT Technical Analysis

Monero Trading Volume:

The trading volume for Monero (XMR) over the past 24 hours has been insignificant, with approximately 7,079.92 USDT 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-USDT is currently in the low zone, around 40.10024. This suggests that Monero is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Monero (XMR-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT 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 (XMRUSDT) at 118.70 USDT with technical analysis, indicating cautionary indicators and weakened support.

Unlock additional insights on XMR BTC Monero Technical Analysis with our detailed analysis; a must-read if you enjoyed the content of this post.

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.

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