XMR USDT Monero Technical Analysis

Monero logo In this Monero technical analysis, we will examine the current price action, trading volume, key levels and indicators for XMR-USDT. Monero (XMR) is a decentralized cryptocurrency that prioritizes privacy and anonymity, utilizing a unique technology called “Ring Signatures” to obscure transaction amounts and sender/recipient identities. This makes it an attractive option for individuals seeking financial privacy and security in their digital transactions. Monero’s decentralized governance model also allows for community-driven decision making, ensuring the cryptocurrency remains resilient and adaptable to changing market needs.

Monero Price Overview:

As of October 02, 2023, Monero is trading at approximately 146.8 USDT. Let’s dive into the detailed price action for XMR-USDT:

Metric Value
Open (O) 149.1
High (H) 150.0
Low (L) 145.6
Close (C) 146.8
Volume (C) 59,679.36
  • Open (O): The opening price for today’s trading session was approximately 149.1 USDT.
  • High (H): Monero reached a daily high of around 150.0 USDT.
  • Low (L): The daily low for XMR-USDT was approximately 145.6 USDT.
  • Close (C): At the time of analysis, Monero is trading near its daily close of 146.8 USDT.
Metric Value
1D Change (%) -1.54%
3D Change (%) 0.00%
7D Change (%) 1.59%
30D Change (%) 4.78%
90D Change (%) -11.51%
YTD Change (%) -0.27%

Over the past three days, XMRUSDT has decreased by approximately 0.00%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 1.59%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with XMRUSDT maintaining an upward trend of approximately 4.78%, despite intermittent fluctuations. Examining the last 90 days, XMRUSDT has witnessed substantial fall of approximately -11.51%, reflecting strong long-term confidence. Year-to-date, XMRUSDT has steadily declined by around -0.27%, 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 0.22621.
  • Momentum score is 0.04782.

XMR USDT Technical Analysis

Monero Trading Volume:

The trading volume for Monero (XMR) over the past 24 hours has been significant, with approximately 59,679.36 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 above the 50-day SMA, indicating short-term bullish momentum.
  • 200-day Simple Moving Average (SMA): Monero is also trading above the 200-day SMA, indicating a positive long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for XMR-USDT is currently in the neutral zone, around 49.30972. This suggests that Monero is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Monero (XMR-USDT) is currently exhibiting signs of short-term bullish 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 neutral RSI and significant trading volume are neutral signals for potential sideways movement.

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.