Price: $0.39001 19.6598%
Market Cap: 57.24B 1.9175%
Volume (24h): 40.88B 0.4%
Dominance: 1.9175%
Price: $0.39001 19.6598%
Market Cap: 57.24B 1.9175%
Volume (24h): 40.88B 0.4%
Dominance: 1.9175% 1.9175%
  • Price: $0.39001 19.6598%
  • Market Cap: 57.24B 1.9175%
  • Volume (24h): 40.88B 0.4%
  • Dominance: 1.9175% 1.9175%
  • Price: $0.39001 19.6598%
Home > Information news > Monero (XMR) Price Analysis for Today, September 4 – XMR Technical Analysis

Monero (XMR) Price Analysis for Today, September 4 – XMR Technical Analysis

Release: 2024/09/06 11:14 Reading: 821

Original author:Inside Bitcoins

Original source:https://coinmarketcap.com/community/articles/66d852a9c8cecb3659df5da5

Monero (XMR) Price Analysis for Today, September 4 – XMR Technical Analysis

Monero Maintains Stability Amid Privacy Coin Interest

Monero (XMR) has remained relatively stable around $175 after a brief dip to $105 during August's market correction. With a market capitalization of $3.23 billion and a daily trading volume of $84.23 million, XMR's recent price activity may be linked to the growing interest in privacy coins.

XMR Key Statistics

  • Current Price: $175
  • Market Cap: $3.23 billion
  • Trading Volume (24h): $84.23 million
  • Circulating Supply: 18.45 million XMR
  • Total Supply: 18.45 million XMR
  • CoinMarketCap Ranking: #25

Over the past month, Monero's value has decreased slightly (0.52%) from its peak but has increased by 1.86% in the last week. Despite market volatility, XMR has demonstrated resilience, recovering with a 27.86% gain from its lowest point over the past month and a 14.07% increase in the last week alone.

XMR/USD Market Analysis

  • Key Levels:

    • Resistance: $179, $185, $190
    • Support: $163, $147, $140

XMR/USD is currently facing resistance near $179. The price is approaching the upper Bollinger Band, indicating potential upward momentum. The MACD line has crossed above the signal line, suggesting a bullish trend. If XMR breaks above $179, it could target higher resistance levels. Failure to break this resistance may lead to a pullback toward the $163 support level.

Drivers of Monero's Popularity

  • Privacy Enhancements: Monero's recent upgrade has further improved the difficulty of tracking private transactions.
  • Pavel Durov's Arrest: The arrest of Telegram's co-founder has increased demand for privacy in the crypto community.
  • Strong Recovery: Monero has shown strong resilience, maintaining its position above critical support levels. If the MACD line continues to rise and the price remains above $175, further gains are possible.

Alternatives to Monero

  • **Pepe Unchained ($PEPU):** Pepe Unchained is a rising competitor offering enhanced transaction speeds and reduced fees. It has successfully raised $11.8 million during its presale and has an active and engaged community.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial advice. Always conduct your own research before making any investment decisions.

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