Should You Sell Monero Classic (XMC) Wednesday?

Wednesday, July 06, 2022 07:33 AM | InvestorsObserver Analysts

Monero Classic receives a weak long-term technical score of 1 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. XMC currently holds a superior long-term technical analysis score than 1% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving Monero Classic a 1 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Monero Classic!

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Trading Analysis

Monero Classic's price is -$0.2555910 (-93.79%) below its 100-day moving average price of $0.272510333 as its price at the moment sits at $0.016919380. Additionally, XMC is $0.0003151 (-66146.17%) higher than its 52-week low price of $0.016604258 while -$0.55573815 (-1743.29%) under its 52-week high of $0.572657526. The current trading price in relation to its long-term average along with its 52-week high and low, gives XMC an average long-term technical score of 1. Long-term trading movement of Monero Classic suggest that investors are bearish on the coin at the moment. Monero Classic has a total market value of $324,453.41 with an low average daily volume of $11,470.78 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, XMC's volume is below its average with $2,120.73 exchanged in total.

Summary

XMC's historical trading over the past year gives it a a weak long-term technical score of 1 as its price movement in that time has given investors reason to be bearish on the coin in the long-term. Click Here to get the full Report on Monero Classic (XMC).