Monero (XMR) Reflects Strong Bullish Move Over the Last Week
Monero price has been giving a tough fight to the bears to maintain its upward momentum, as seen from the seven-day price trend. The price of XMR coin has been trading in the range between $58 – $65 over the past seven days with intermittent phases of bull and bear run.
Monero Price Analysis
XMR coin price has managed to beat the bear pressure most of the time as observed from the seven-day price trend. The price was at a high of $65.9272 on January 22. The bears pushed the price below the baseline at $58.5239 on January 24, the downward movement being to the tune of 11.09%. After this drop, Monero’s price managed to shoot up to $62.4157 on the same day, showing a rise of 6.73%. Later, the currency started to correct downwards and reached a low of January 26 at $60.8947, the downswing being to the extent of 2.40%. XMR price again had a rally at $63.9813 on January 27 showing an upward variation of 5.07%. Today, the price of Monero is trading at a similar level around $63.8281 with marginal volatility.
Monero coin reflects strong upside momentum, and according to analysts, the currency may show stable movement in the near-term. Investors can continue to hold on to their investments as XMR is a coin for the long haul. Day traders can continue to trade with a cautious approach.