Monero [XMR] recovers while the market slowly welcomes bulls: technical analysis

Monero [XMR] Technical analysis

On Monday, the market is exhibiting a steady ascent and descent with the bulls who are currently taking the lead and Monero trying to recover. Although the best altcoins trade in red, the rest of the digital currencies seem to follow a fairly bullish trend. The twelfth most valuable virtual currency in terms of market capitalization, faced with a proven pressure from buyers and sellers, managed to make a leap towards green commerce. Even at a time when Bitcoin [BTC] is constantly underestimated, this currency could withstand considerably the downward momentum. Previously, when the market succumbed to the greater pressure from the seller, the value of Monero [XMR] it has fallen by almost 12% over the last seven days and has fallen by almost 52% in the last month.

XMR / USD

The cryptocurrency is far from being erupted from the key resistance level, which can be traced back to $ 44.59. At the time of writing this document, the RSI time stamp is noted at 63.7, which implies that the digital currency is experiencing a considerably high buying pressure in the market.

The MACD indicates that cryptography is going well during the day and at the time of printing, it is negotiating in the bullish zone. The 100 EMA line shows that the currency shows an uptrend. According to data from CoinMarketCap, the total virtual market capitalization is $ 678.82 million. The currency has increased by about 1.48% compared to the US dollar to be valued at the moment $ 40.59.

XMR / BTC

The token rose 1.26% against Bitcoin [BTC] with an XMR it is worth almost 0.0123138 BTC.

XMR [XMR] Latest updates

• 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.
• 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.

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

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