Monero price analysis: The only laggard crypto which still needs to breakout
|- XMR is the only crypto that still hasn't broken out.
- Needs momentum to help it crossover.
Monero can easily be termed as laggard crypto as it has been the only digital currency that has lagged price momentum ever since all the others have started rallying back up since the start of this month. Although, XMR too has rallied quite a bit, but it still hasn't broken out of those technical patterns that can help it sustain the upmoves.
XMR/USD is down a percent at $257.71 on a day when all the others are up and away. A quick price move comparison with EOS and BTC reveals that XMR is up a meagre 20 percent compared with 48 percent for EOS and 36 percent for BTC since the start of April.
Resistances for XMR now stand at $258 anc $267 while supports stand at $252 and $243. $300 is the descending line which XMR needs to cross before it can be termed as broken out and shrug off its 'laggard' tag.
XMR/USD daily chart:
XMR-EOS-BTC comparison - April to date:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.