Monero

Monero

4 December 2017, 12:06
Dragan Drenjanin
0
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In the soaring cryptocurrency market, Monero is one of the best performers. The investors in the coin had an excellent return as the coin is marking new records each day. With the bullish rise, Monero crossed $3 billion in market cap and is currently the 10th largest coin, as per the market cap.

Key Highlights:

  • With the weekly bullish run, the coin reached above $200 again and is currently trading around $198
  • XRP/BTC depreciated 16 percent, and the current trading value is around 0.000021 BTC



Monero started the week by taking a dive from the record $207 to $150. Though the coin recovered, another resistance level at $186 pushed the token down again, and it reached $153. The token got some support at that level, and it also acted as a pivot initiating a week-long upward move. In the upward run, the token faced some resistance at $192, but the support formed at $183 checked any dip. The coin finally went over $200 again but faced strong resistance there.


Though the token tested the resistance for some time, it finally fell to $183 but quickly recovered. XRP/USD is currently trading around $197.

With the recent rise and fall, the indicators are stabilizing without signaling anything strong. Stoch is running sideways around 60 percent, and RSI is at 45 percent. MACD is also stabilizing near the axis. Fibonacci retracement is around 23.6 percent.


Against the bullish Bitcoin, XRP did not perform well this week. Though there were a couple of spikes in the initial week, the week was dominated by a gradual bearish trend. XRP/BTC pair went down from 0.000025 BTC to 0.000021 BTC marking a 16 percent depreciation.
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