Monero receives a strong long-term technical score of 82 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
XMR currently holds a superior long-term technical analysis score than 82% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to ‘buy the dip’.
Trading Analysis
XMR is currently $17.5300000 (11.43%) above its 100-day moving average price of $153.370000000 with its current price of $170.900000000. Meanwhile, Monero is $73.6700000 (164.45%) above its 52-week low price of $97.230000000 and -$168.65000000 (47.39%) below its 52-week high of $339.540000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 82. Trends for the long-term trading history of Monero suggest that traders are currently neutral on the coin.
Monero has a market capitalization of $3,103,853,999.81 and a relatively high average daily volume with $1,013,266,413.39 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, XMR’s volume is below its seven day average with 133,479,650.18 exchanged.
This coin’s subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.
Summary
Technical analysis of Monero over the past year results in the crypto receiving a a strong long-term technical score of 82 as its price movement in that time has given traders reason to be neutral on the coin in the long-term.
Click Here to get the full Report on Monero (XMR).
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.
Thank you for signing up! You’re all set to receive the Morning Update newsletter
This news is republished from another source. You can check the original article here
Be the first to comment