Cryptocurrencies Price Prediction: Monero, PI & Bitcoin – European Wrap 28 November
|Monero extends recovery as bulls aim for highest yearly close
Monero (XMR) continues its steady recovery above the $400 mark at the time of writing on Friday, approaching the $419 resistance level that has capped the price since May 26. Derivatives data shows increased interest from large wallet investors, popularly known as whales, as XMR prepares for a breakout rally. The technical outlook maintains a bullish bias as the Moving Average Convergence Divergence (MACD) indicator flashes a buy signal.
Pi Network dips as gaming partnership impact wanes ahead of December token unlock
Pi Network (PI) is down 4% by press time on Friday, after three days of an uptrend fueled by the CiDi Games partnership announcement on Wednesday. The intraday pullback risks erasing this week's gains as Centralized Exchanges (CEXs) witness large deposits ahead of the scheduled unlock of 186 million PI tokens in December.
Bitcoin stalled at a critical resistance
The crypto market cap corrected by 0.4% to $3.10T, pausing the cautious rebound from last Friday. Yet we can’t talk about the rebound running out of steam, as there was strong growth the day before. But we do not see any increase in optimism, as just about one in seven coins has gained in the last 24 hours, compared to a decline for most.
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