XMR, the native token of Monero, a cryptocurrency that allows transactions to take place privately and with anonymity. Since February end, the coin price has been rising gradually and is ready to reach the $300 mark.
Starting with the preliminary price data, let’s see what the token price holds today!
$273.42 at 5:00 GMT, a great hike of 6.86% in the last 24 hours, proves its bullishness!
Presuming the uptrend continues, and we see such gains in the upcoming sessions, Monero will shortly surpass the $300 milestone.
Moving ahead to the other details, the intraday trading volume is almost $408.96 Mn and the live market cap of $4.947 Bn. So, the figures are top-tier and well suited for a token standing firm in the top 35 coins in the crypto-verse.
The XMR/USDT pair shows a solid uptrend in action with hardly any correction crossing below the higher high mark in the uptrend after March. As we can see in the chart, the uptrend initiated close to $150 in late February.
Even to the buyer's surprise, the uptrend in Monero held its own against the increased volatility the market observed in the last couple of months.
Let us take a more in-depth look into the technical analysis of the XMR token and see what the price action and the technical indicators say about it.