![Monero [XMR] hits new heights amid market lull, here’s why](https://i.headtopics.com/images/2023/3/26/cryptoamb/monero-xmr-hits-new-heights-amid-market-lull-here--monero-xmr-hits-new-heights-amid-market-lull-here--1640013994059612160.webp)
XMR has seen increased buying in the last month. This has pushed its price to a one-month high. While the general market traded sideways in the last week, Monero [XMR] witnessed a price rally that caused the privacy coin to exchange hands at a one-month high. Read Monero [XMR] Price Prediction 2023-24 Trading at $165.35 at press […]
While the general market traded sideways in the last week,Monero [XMR] Price PredictionTrading at $165.35 at press time, XMR’s value jumped by 7% in the last 30 days. On a year-to-date, XMR’s price has gone up by double digits, per data fromIncreased XMR accumulation in the past two weeks launched the coin into a new bull cycle on 12 March, since which its price has grown by 17%.
The Aroon Up Line , in an uptrend at 100%, lent credence to the strength of the current bullish trend in the XMR market. When an asset’s Aroon Up line is close to 100, the uptrend is strong, and the most recent high was reached relatively recently.Conversely, XMR’s Aroon Down Line was pegged at 21.43% at press time. Generally, when a coin’s Aroon Down line is close to zero, the downtrend is weak, and the most recent low was reached long ago.
This golden cross is generally considered an indication of an upward trend. Moreso, XMR’s price traded above the moving averages at press time, which is also read as a bullish signal.
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Monero’s [XMR] bullish breakout; is the second leg of the rally feasible?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Higher and lower timeframe charts were bullish. Bulls had slight leverage based on the long/short ratio. Monero [XMR] broke above its consolidation range of $146.1 – $157.6 on 24 March. However, the bulls’ rally […]
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