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While the crypto-market falls into the bearish trap, all the main altcoins have dipped into red with Monero [XMR] following the slow momentum. The short uptrend came at the beginning of the downtrend on Wednesday, which recorded losses from the market value of the fourteenth most valuable digital asset. The increasing sales pressure has pushed the currency to trade in a downward trajectory. Monero [XMR] it almost stumbled by 9.5% over the last seven days and rose by almost 14.5% over a period of the month.
XMR / USD
The MACD, at the moment, indicates that the cryptocurrency has slipped into the bearish zone and the 100 EMA line indicates that the virtual currency is falling. The key support level is at $ 46.02, whereby the altcoin is traded. The hourly RSI indicator is plotted at 50.6, which shows that digital activity is experiencing moderate pressure from marketers. The overall market valuation of XMR is $ 1 billion, according to CoinMarketCap data. At the time of writing, the currency slipped by almost 1.48% against the US dollar and is trading at $ 45.30.
Monero [XMR] price table
XMR / BTC
The digital currency lost 0.87% against Bitcoin [BTC] and currently, an XMR is equivalent to 0.0123802 BTC.
Monero [XMR] Latest updates
Monero [XMR] is one of the favorite cryptocurrencies among cyber criminals. In fact, recent research shows that almost $ 57 million of US dollars were lost for the illegal extraction of Monero. Not only that, now is affecting the headlines as not only cyber criminals, even the kidnappers ask Monero a ransom. The kidnappers demanded nine million euros [$10 million] in the crypt after kidnapping Anne-Elisabeth Falkevik Hagen, wife of one of Norway's richest men, Tom Hagen. The amount requested by the kidnappers is about 1% of the entire market cap of Monero, a Reddit user, underlined Joaeahina.
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Image via Shutterstock
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