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- 1 Monero crypto reversed its direction after dipping below the 200-Day EMA.
- 2 XMR/USD gathered strength to surpass the weekly high and the round level of $150.
Monero price traded strongly for the third consecutive day on Friday and surpassed the weekly high. The XMR/USD pair gained ground on Wednesday after dipping below the 200-Day EMA.
The bulls resumed the recovery and attempted to break above the 200-Day Exponential moving average. At the time of writing, the crypto price was hovering near the $157 mark with an Intraday gain of 2.12%.
Moreover, XMR crypto crypto could not continue with the short term positive trend and slipped below the key EMAs from the very start of the financial year 2024.
The crypto lost nearly 15% in the very 1st week and January. However, the bullish bias in the past three consecutive sessions has recovered more than 50% of the fall and the crypto has managed to reclaim the bullish territory.
Monero is a cryptocurrency which aims to provide privacy and anonymity for digital transactions. It uses advanced cryptography to obscure senders and receivers’ identity. At the time of writing, it had a market cap of $2.889 Billion and ranked 34th among all cryptos.
Monero Crypto Price Trend Analysis
Moreover, the XMR price trend analysis shows that the crypto traded above the key EMAs, including the 50-Day EMA confirming a strong short term outlook. The price climbed to a high of $180 on December 28th, 2028 and fell sharply thereafter.
Thereafter, the bulls started losing from the very start of this year and fell sharply, breaking below all the key EMAs.
The bulls are attempting a recovery and any up move is likely to resume the ongoing trend. The bulls may reclaim the upper levels if the crypto surpasses key EMAs.
Moreover, if the bulls fail to recover, it may lead to a trend change and the price may decline sharply below the recent support.
Monero Price Prediction January 2024
As per the most optimistic view of our analysts, the XMR price could reach a high of $180.94 by the end of the month. The bearish view of analysts hopes for a breakdown below the recent support after which the price may drop to a low of $130.
Monero Price Prediction 2024
The price prediction for 2024 shows that Monero crypto may advance to a high of $247.67 by the end of year 2024. Whereas, the less optimistic analysts estimate a price target of $199.89 by the end of year 2024.
Monero Price Prediction 2025
By the next two years, the Monero cryptocurrency price may attain higher highs if the positive trend continues to prevail. On the most optimistic note, the price may attain $311.8 suggesting an upside potential of 93.27%. The most pessimistic view assumes the price to reach $243.15 by the end of the financial year 2025.
Monero Price Prediction 2026
On the most optimistic note, Monero crypto could gain to a high of $352.3 in the year 2026. On the other hand, the most pessimistic prediction of our analysts is for the price to reach $283.04.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
