Price Analysis

XMR Price Prediction

XMR Price Prediction

Monero is a private digital currency.

Monero is cash for a connected world. It’s fast, private, and secure. With Monero, you are your own bank. You can spend safely, knowing that others cannot see your balances or track your activity. The majority of existing cryptocurrencies, including Bitcoin and Ethereum, have transparent blockchains. Transactions can be verified and/or traced by anyone in the world. This means that the sending and receiving addresses of these transactions could potentially be linked to real-world identities.

Monero, on the other hand, uses various privacy-enhancing technologies to ensure the anonymity of its users. It will be interesting to observe XMR price.

Monero transactions are confidential and untraceable.

Unlike selectively transparent alternatives (e.g. Zcash), Monero is the only cryptocurrency where every user is anonymous by default. The sender, receiver, and amount of every single transaction are hidden through the use of three important technologies: Stealth Addresses, Ring Signatures, and RingCT.

Because every transaction is private, Monero cannot be traced. This makes it a true, fungible currency. Merchants and individuals accepting Monero do not need to worry about blacklisted or tainted coins.

Let us review XMR Price.

XMR/USD – Price Prediction

xmr

XMR is currently trading above the support zone at $330 and as long as this support holds, we could start seeing a move towards $382 and $415. If the resistance at $415 gets broken, we could start seeing bigger moves. Targets could be $441, $46, $503, $550, $686 and $906. Failure to hold the support at $330 could lead to a drop towards $288 and $242 with a potential wick towards $191.

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Images courtesy of TradingView.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

 

 

 

Source: altcoinbuzz.io
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