Monero receives a weak long-term technical score of 27 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 27% 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
The current trading price of $147.800000000 for XMR is $2.7100000 (1.87%) above the coins 100-day moving average of $145.090000000. XMR meanwhile is $50.5700000 (140.69%) above its 52-week low of $97.230000000 and -$148.94000000 (46.44%) under its 52-week high price of $296.740000000. Monero’s current price relative to the coins long-term average and 52-week high and low, gives the crypto an average long-term technical score of 27. The price movement and range of XMR suggest that investors are bearish on the coin at this time.
Monero has a market capitalization of $2,686,270,189.60 and a relatively high average daily volume with $762,703,178.63 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 85,322,390.52 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 weak long-term technical score of 27 as its price movement in that time has given traders reason to be bearish on the coin in the long-term.
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