What do the Long-Term Technicals Predict for Monero (XMR) Wednesday?

Wednesday, January 05, 2022 05:20 PM | InvestorsObserver Analysts

InvestorsObserver gives Monero a strong long-term technical score of 76 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the coin's support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it's a strong buy-and-hold investment opportunity currently for traders. XMR at this time has a superior long-term technical analysis score than 76% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover coins that have bottomed out.

InvestorsObserver is giving Monero a 76 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Monero!

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Trading Analysis

XMR is currently -$34.9400000 (-14.48%) below its 100-day moving average price of $241.350000000 with its current price of $206.410000000. Meanwhile, Monero is $83.4600000 (158.93%) above its 52-week low price of $122.950000000 and -$311.21000000 (37.94%) below its 52-week high of $517.620000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 76. Trends for the long-term trading history of Monero suggest that traders are currently neutral on the coin. Monero has a total market value of $3,727,330,941.39 with an high average daily volume of $1,141,411,345.51 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, XMR's volume is below its average with $157,114,105.82 exchanged in total. This coin's subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

Trading patterns over the last year for Monero leads to the coin's a strong long-term technical score of 76 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the coin. Click Here to get the full Report on Monero (XMR).