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Monero [XMR] Technical analysis
With the bears attacking again, the main altcoin began trading in red with Monero [XMR] keep a slow momentum in the market. The twelfth most valuable virtual asset by market capitalization could not bear the extreme sales pressure in the market that led to the reduction of $ 66.2 million coins over a period of 16 hours over the course of the day . Currently, the currency continues its downward spiral due to its weak performance in recent days. For the past seven days, Monero [XMR] it fell by almost 22% in its price and plunged close to 60% in the last month.
XMR / USD
The MACD indicates that the token is on a downward trajectory and is currently operating in the bearish territory. The 100 EMA line at the time of writing shows that the digital currency is showing a downward trend. The virtual asset is trading below the key support level, which can be tracked at $ 45,53.
At present, the RSI time stamp is marked at 27.3, which implies that the token has plunged below the oversold level due to the excessive dominance of sellers on the market. The total market value of virtual assets is $ 17 billion, according to CoinMarketCap. The token fell almost 11.59% against the US dollar, currently trading at $ 44.82.
Monero [XMR] price table
XMR / BTC
At the time of printing, the currency lost almost 2.87% compared to Bitcoin [BTC] with an XMR it is valued around 0.0130994 BTC.
Monero [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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