Monero Price Analysis: XMR/USD bulls attempting to break free from deadly daily range
|- Monero price in the latter stages of trading on Tuesday was seen holding decent gains of some 4.5%.
- Ryo cryptocurrency detailed via a blog post of vulnerabilities in Monero wallets on exchanges, which could allow fake deposits.
Monero (XMR) price on Tuesday is trading firmly in the green towards the latter stages of the session, up some 4.5%. It is trading at its highest level since 24th February, when the price came under heavy selling pressure.
It was reported in a recent blog by Ryo cryptocurrency of a bug in the Monero’s (XMR) wallet software. It could allow imitation deposits to exchanges, an issues which could affect all and any users running wallets on an exchange.
Technically, despite the upside seen in the session today, price action continues to move within a bearish flag pattern structure, via the daily chart. Immediate support eyed around $48, the lower part of the pattern and current range. A breach here could see the gains made in February at risk of 100% reversal.
XMR/USD daily chart
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