Will XMR rally as Monero gears up to undergo a major hard fork in July?
) price dropped by nearly 10% three days after establishing a week-to-date high around $290 on April 24. Nonetheless, several technical indicators suggest that the XMR/USD pair is poised to resume its uptrend over the next few months.Notably, XMR's price broke out of its"falling wedge" structure in late March. It continued its move upside in the later daily sessions, with rising volumes indicating bullish sentiment among Monero traders.as bullish reversal patterns, i.e.
As a rule, the falling wedge's breakout target comes to be near the level at length equal to the maximum distance between the pattern's lower and upper trendline.The XMR's falling wedge is up to nearly $250-long. Meanwhile, the structure's breakout point sits around $210. As a result of this, the Monero token's upside target comes to be near $470, up more than 75% from today's price.
Nevertheless, XMR still needs to close above $300, a psychological resistance level, to confirm its move toward the falling wedge target.XMR's bullish outlook also appears in the months leading up to Monero's hard fork. Notably, Monero will undergo a tentative protocol upgrade in July, preceding a testnet deployment in May. The update aims to increase the ring size from 11 to 16 to ensure that XMR transactions have a larger anonymity set to make it harder to
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Monero to Undergo Fundamental Update in May 2022$XMR gained almost 90% in the last 2 months right before the fundamental update expected in May 2022
Baca lebih lajut »
Monero to Undergo Fundamental Update in May 2022$XMR gained almost 90% in the last 2 months right before the fundamental update expected in May 2022
Baca lebih lajut »
LA County's streak of falling gas prices ends after 25 daysA 25-day streak of decreases to the average price of a gallon of self-serve regular gasoline in Los Angeles County ended.
Baca lebih lajut »
‘Unacceptable play’ leads to Game 2 loss for Arizona vs. ASU; series on the line SundayThe Wildcats fall behind early and are unable to rally in an 8-5 setback against the Sun Devils.
Baca lebih lajut »
Biggest Movers: MATIC Slips on Saturday, RUNE and LUNA Over 5% Lower – Market Updates Bitcoin NewsMATIC fell to its long-term support level on Saturday, following a surge in price during Friday’s session.
Baca lebih lajut »
Biggest Movers: Near, EOS and RUNE Fall During Friday's Selloff – Market Updates Bitcoin NewsNEAR was one of the big movers in today’s trading session, as prices fell by almost 10% on Friday. RUNE and EOS also slipped.
Baca lebih lajut »