cryptocurrency

Monero Price Prediction (XMR) – Will XMR reach $350 soon?

  • The bullish XMR price forecast is $149.26 to $316.3.
  • Monero (XMR) may also reach $350 soon.
  • The bearish XMR price prediction for 2022 is $104.3.

In Monero Price Predictions (XMR) for 2022, we use statistics, price patterns, RSI, RVOL, and other information about XMR to analyze the future movement of cryptocurrencies.

Monero (XMR) Current Market Status

according to Queen GekkoMonero (XMR) price is $140.67 with a 24-hour trading volume of $104,622,190 at the time of writing. However, XMR is down around 4.2% in the last 24 hours.

Furthermore, Monero (XMR) has a circulating supply of 18,147,820 XMR. Currently, Monero (XMR) is traded on crypto exchanges such as Binance, DigiFinex, OKX, WhiteBIT, and FMFW.io.

What is Monero (XMR)?

Created in 2014, Monero cryptocurrency (XMR) is open source and privacy focused. Its blockchain is opaque, making transaction details and amounts anonymous by masking the addresses used by participants.

Investors can mine Monero using their own CPUs, which means they don’t need to pay for proprietary hardware. The mining process of Monero is based on the concept of equality where everyone is equal and deserves equal opportunity.

Monero (XMR) Price Prediction 2022

Monero (XMR) occupies the 30th position on CoinGecko at the moment. The XMR price forecast for 2022 is explained below with a daily time frame.

XMR/USDT Horizontal Channel Pattern (Source: TradingView)

The above chart for XMR depicted the horizontal channel pattern, also known as the sideways trend. Generally, the horizontal channel is formed during price consolidation. In this pattern, the upper trend line, the line connecting the highs, and the lower trend line, the line connecting the lows, run horizontally parallel and the price action is contained within it.

The horizontal channel is often seen as one of the appropriate market timing patterns where the buying and selling points are in a state of consolidation.
Currently, Monero (XMR) is around $141.26. If the pattern continues, XMR price may reach the $165.93 resistance level. If the trend reverses, the price of XMR could drop to $134.69.

Monero Support and Resistance Levels (XMR)

The chart below shows the support and resistance levels in Monero (XMR).

XMR USDT Support and Resistance Levels (Source: TradingView)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Monero (XMR).

resistance level 1 $170.1
resistance level 2 $210.5
resistance level 3 $255.44
resistance level 4 USD 316.3
Support level 1 $139.9
Support level 2 $104.3
XMR support and resistance level

The charts show that Monero (XMR) has experienced an upward trend over the past month. If this trend continues, XMR may work in tandem with the bulls breaking the resistance level at $316.

Accordingly, if investors turn on the cryptocurrency, the price of Monero (XMR) could drop to around $104.3, which is a bearish sign.

Monero (XMR) Price Prediction 2022 – RVOL, MA and RSI

The Relative Volume (RVOL) of Monero (XMR) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of XMR is below the cutoff line, which indicates the weakness of the participants in the current trend.

Also, the Monero (XMR) Moving Average (MA) is shown in the above chart. Notably, the price of Monero (XMR) is below the 50 MA (short term), so it is quite bearish. Currently, XMR is in a bearish state. Therefore, there is a possibility of a reversal of the XMR trend at any time.

Meanwhile, the Relative Strength Index (RSI) for XMR is 40.43. This means that Monero (XMR) is almost in an oversold state. However, this means that a major reversal in the XMR price may occur in the coming days. Therefore, traders need to trade carefully.

Monero (XMR) Price Prediction 2022 – ADX, RVI

Let’s now take a look at Monero’s Average Directional Indicator (ADX) (XMR). It helps to measure the overall strength of a trend. The indicator is the average of the values ​​of the expanding price range. This system attempts to measure the strength of price action in positive and negative trends using DMI indicators with ADX.

The above chart represents ADX from Monero (XMR). Currently, the ADX indicator for XMR is in the 15.5 range and therefore indicates a weak trend.

The chart above also represents the Monero’s Relative Volatility Index (RVI) (XMR). RVI measures the continuous deviation of price changes over a period of time. XMR’s RVI is below 50, which indicates low volatility. In fact, the Monero Relative Strength Index (XMR) is at 40.43 confirming a possible sell signal.

Comparison of XMR with BTC and ETH

The chart below shows a price comparison between Bitcoin (BTC), Ethereum (ETH), and Monero (XMR).

BTC vs ETH vs XMR Price Comparison (Source: TradingView)

From the above chart, we can interpret that the XMR price action is similar to BTC and ETH. This indicates that when the price of BTC and ETH increases or decreases, the price of XMR also increases or decreases, respectively.

Monero (XMR) Price Prediction 2023

If price action eventually slows down in momentum and the trend reverses, Monero (XMR) Maybe $355 by 2023.

Monero (XMR) Price Prediction 2024

With several network upgrades, Monero (XMR) may enter an upward trajectory. If the coin attracts the attention of major investors, XMR could rise to $400 by 2024.

Monero (XMR) Price Prediction 2025

If Monero (XMR) maintains key resistance levels and continues to be recognized as a better investment option among investors over the next three years, XMR will rise to $450.

Monero (XMR) Price Prediction 2026

If Monero (XMR) maintains key resistance levels and continues to be recognized as a better investment option among investors over the next four years, XMR will rise to $500.

Monero (XMR) Price Prediction 2027

If Monero (XMR) maintains key resistance levels and continues to be recognized as a better investment option among investors over the next five years, XMR will rise to $550.

Monero (XMR) Price Prediction 2028

If Monero (XMR) maintains a strong position as a better investment option for the next six years amid the trends in the highly volatile cryptocurrency market. By paying significant price hikes, XMR will reach $600. in 2028.

Monero (XMR) Price Prediction 2029

If investors flock and continue to place their bets on Monero (XMR), this will see huge spikes. XMR could reach $650 by 2029.

Monero (XMR) Price Prediction 2030

With greater developments in the Monero ecosystem, the crypto community may continue to invest in XMR over the next eight years and drive significant price hikes for the token. Thus, the price of Monero (XMR) could reach $700. by 2030.

conclusion

With the continuous improvements in the Monero network, we can say that 2022 is a good year for XMR. Because of this, the bullish price forecast for Monero (XMR) in 2022 is $316. On the other hand, the bearish price prediction for Monero (XMR) for 2022 is $104.3.

Moreover, with developments and upgrades in the Monero ecosystem, it will help XMR’s performance to reach all-time high (ATH) at $542.33 very soon. But, it could also reach $350 if investors think XMR is a good investment in 2022.

Instructions

What is Monero (XMR)?

Monero is a privacy-centric cryptocurrency based on the CryptoNote protocol, a secure, private, and undetectable currency system.

Where can you buy Monero (XMR)?

XMR is listed on several cryptocurrency exchanges including Binance, DigiFinex, OKX, WhiteBIT, and FMFW.io.

Will Monero (XMR) Come to a New ATH Soon?

With the continuous developments and updates within the XMR platform, it has a great potential to reach ATH soon.

What is the highest ever price (ATH) for a Monero (XMR)?

On January 09, 2018, XMR reached an all-time high (ATH) at $542.33.

Is Monero (XMR) a good investment in 2022?

Monero appears to be one of the best cryptocurrencies this year. According to the achievements recorded by XMR in the past few months, XMR is a good investment in 2022.

Can Monero (XMR) reach $350?

Monero (XMR) is one of the active cryptocurrencies that is still maintaining its bullish state. Finally, if this bullish trend continues, Monero (XMR) price will reach $350 soon.

What will the price of Monero (XMR) be in 2023?

Monero (XMR) is expected to reach $400 by 2023.

What will the price of Monero (XMR) be in 2024?

Monero (XMR) is expected to reach $450 by 2024.

What will the price of Monero (XMR) be in 2025?

Monero (XMR) is expected to reach $500 by 2025.

What will the price of Monero (XMR) be in 2026?

Monero (XMR) is expected to reach $550 by 2026.

Disclaimer: The opinion expressed in this graph is that of the author only. It does not represent any investment advice. TheNewsCrypto team encourages everyone to do their own research before investing.

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