Monero’s Positive Monthly Streak in Performance Continues

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  • XMR’s price has posted gains over the last week – adding to its monthly streak.
  • The price of XMR is standing at $161.06, according to CoinMarketCap.
  • Fresh sell volume has entered the daily chart for XMR as its price tries to stay above the 9 EMA level.

Monero’s (XMR) price has picked up slightly over the last seven days, according to CoinMarketCap. As a result, the price of XMR is $161.06 at the time of writing.

Trading activity for the privacy-focused coin has seen a daily surge of approximately 51.48% taking the daily figure to $132,129,931. As things stand, the market cap of XMR is $2,927,005,507 – ranking it number 27 on CoinMarketCap’s list of the biggest crypto projects by market cap.

This ranks it underneath Cronos (CRO) with its market cap of $3,058,871,459 and above the Ripple-forked coin, Stellar (XLM) with its market cap of around $2,869,670,311.

The daily chart for XMR/USDT shows that Monero’s price has formed an ascending price channel that has spanned over the last two months. The positive channel has seen Monero’s price rise from a low of $96.7 to its current level of $161.06.

There is some selling pressure on XMR’s price as it battles to maintain a position above the 9 EMA line. This fresh sell volume on the coin’s daily chart has seen the Relative Strength Index (RSI) indicator slope toward the oversold territory. Nonetheless, the RSI line is still positioned above the RSI SMA line, which is a bullish sign.

The Moving Average Convergence Divergence (MACD) indicator has also turned bullish with the MACD line crossing above the MACD signal line. However, the crossing is not a convincing one with the margin between the two lines being very tight.

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