Monero is Trading -11.87% Below Our Price Prediction for Oct 13, 2024

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Monero is up 3.16% today against the US Dollar
• XMR/BTC increased by 5.17% today
• XMR/ETH increased by 3.68% today
• Monero is currently trading 11.87% below our prediction on Oct 13, 2024
• Monero dropped -12.20% in the last month and is down -2.34% since 1 year ago

XMR price is expected to rise by 16.59% in the next 5 days according to our Monero price prediction

Monero price today is trading at $ 150.14 after gaining 3.16% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 2.03% in the same time period. XMR performed well against BTC today and recorded a 5.17% gain against the world’s largest cryptocurrency.

According to our Monero price prediction, XMR is expected to reach a price of $ 170.36 by Oct 13, 2024. This would represent a 16.59% price increase for XMR in the next 5 days.

XMR Price Prediction Chart

Buy/Sell Monero

What has been going on with Monero in the last 30 days

Monero has been displaying a negative trend recently, as the coin lost -12.20% in the last 30-days. The medium-term trend for Monero has been bearish, with XMR dropping by -3.77% in the last 3 months. The long-term picture for Monero has been negative, as XMR is currently displaying a -2.34% 1-year price change. On this day last year, XMR was trading at $ 153.74.

Monero reached its all-time high price on Jan 09, 2018, when the price of XMR peaked at $ 593.42. The current XMR cycle high is $ 514.43, while the cycle low is at $ 26.23. XMR has been displaying low volatility recently – the 1-month volatility of the coin is at 6.62. Monero recorded 13 green days in the last 30 days.

Monero technical analysis for today – Oct 08, 2024

The sentiment in the Monero markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 143.63, $ 142.17 and $ 139.35, while $ 147.91, $ 150.73 and $ 152.19 are the key resistance levels.

Bearish sentiment for Monero

7 indicators are currently signaling a bullish prediction for Monero, while 23 indicators are showing a bearish forecast. With 77% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Monero.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 49 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Monero moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Monero is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Monero is at 33.59, suggesting that XMR is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Monero over the last 50 days. Currently, Monero is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the XMR closing price for the last 200 days. XMR is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Monero prediction

After considering the above factors, we can conclude that the current forecast for Monero price prediction is Bearish. XMR would have to increase by 16.59% to hit our $ 170.36 target within the next five days. Moving forward, it will be important to monitor the XMR market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Monero price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.