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Monero [XMR] Technical analysis
The bears have returned to the cryptocurrency market by dragging down all the major altcoins with Monero [XMR] submerging under its support level. With the fall of Bitcoin [BTC] price less than $ 3,500, the entire digital goods market, except a few, began to trade in red. The twelfth most valuable virtual asset for its market capitalization sold under intense sales pressure in the market over the course of the day. Previously, when the market remained bearish, Monero [XMR] it nearly stumbled by 25% against the dollar in the last seven days and lost almost 59% in the duration of one month.
XMR / USD
The MACD, at the time of writing this article, suggests that the cryptocurrency is traded in bear territory. The 100 EMA line points to the downward trend of the digital currency in the cryptographic market space. The new level of digital asset support is at $ 46.07 and at the time of writing, the currency is traded below the line.
The hourly RSI indicator is plotted at 33.9, which suggests that XMR is experiencing greater sales pressure in the market and is about to hit the oversold level. According to data from CoinMarketCap, the total market capitalization of the virtual currency is $ 715.79 million. Currently, the token has suffered a decline of almost 8.38% compared to the US dollar to negotiate $ 42.99.
Monero [XMR] price table
XMR / BTC
At the time of printing, virtual currency is down by almost 4.20% compared to Bitcoin [BTC] with an XMR of approximately 0.0125974 BTC.
XMR [XMR] Latest updates
The US government is becoming increasingly skeptical about privacy-focused currencies. A pre-solicitation paper published by the Department of Homeland Security's Small of Innovation Research Program (SMIR) stated that the US government is examining ways to use blockchain forensic analysis to track cryptocurrencies like Monero and ZCash . These cryptocurrencies are known to be used by terrorist operations and also have multiple instances of crypto-jacking associated. Monero has had an increase in instances of cryptojacking. Recently, McAfee Labs found new Russian malware for Monero's cryptojacking, Webcobra that was used to extract Monero from users' computers. It is said that Monero is a favorite target for cryptojackers.
The encrypted privacy of Monero [XMR] it has been added to the ATMs cryptocurrencies in Switzerland by the crypto-broker Bity. Encryption will surely have a big boost with this implementation of ease of access. The ATM allows the purchase of Bitcoins [BTC], Ethereum [ETH], Monero [XMR] with the following Fiat, Swiss Francs [CHF] o Euro [EUR], with a purchase / sale volume of CHF 5,000. Users can withdraw their Fiat from any ATM machine inside the Bity network, regardless of where the original transaction began.
See also:
Monero [XMR] available on ATM with cryptocurrency in Switzerland
Government of the United States to build forensic tools to track cryptos focused on privacy as Monero
Image via Shutterstock
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