In this Monero (XMR) price prediction 2024, 2025-2030, we will analyze the price patterns of XMR by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Monero (XMR) Current Market Status
What is Monero (XMR)
Monero cryptocurrency (XMR) was established in 2014, which is open-source and focuses on privacy. Its blockchain is opaque, which makes 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 special hardware. The mining process for Monero is based on an egalitarian concept where all are equal and deserve equal opportunities.
Monero 24H Technicals
(Source: TradingView)
Monero (XMR) Price Prediction 2024
Monero (XMR) ranks 25th on CoinMarketCap in terms of its market capitalization. The overview of the Monero price prediction for 2024 is explained below with a daily time frame.
XMR/USDT Triple Bottom Pattern (Source: TradingView)
In the above chart, Monero (XMR) exhibits a right-angled descending broadening wedge. Right-angled descending broadening wedge.is a bullish reversal pattern. The pattern is an inverted ascending triangle because it is made up of two converging lines with a horizontal line for the resistance and a bearish downward slant for the support.
At the time of analysis, the price of Monero (XMR) was recorded at $118.93. If the pattern trend continues, then the price of XMR might reach the resistance level of $156.58 and $130.91. If the trend reverses, then the price of XMR may fall to the support of $109.92.
Monero (XMR) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Monero (XMR) in 2024.
XMR/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Monero (XMR) for 2024.
XMR Resistance & Support Levels
Monero (XMR) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (XMR) are shown in the chart below.
XMR/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Monero (XMR) market in 2024.
Monero (XMR) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Monero (XMR) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
XMR/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Monero (XMR).
Comparison of XMR with BTC, ETH
Let us now compare the price movements of Monero (XMR) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs XMR Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of XMR is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of XMR also increases or decreases respectively.
Monero (XMR) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Monero (XMR) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
Conclusion
If Monero (XMR) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Monero (XMR) price prediction for 2024 is $205.6. Comparatively, if unfavorable sentiment is triggered, the bearish Monero (XMR) price prediction for 2024 is $104.7.
If the market momentum and investors’ sentiment positively elevate, then Monero (XMR) might hit $250. Furthermore, with future upgrades and advancements in the Monero ecosystem, XMR might surpass its current all-time high (ATH) of $517.62. and mark its new ATH.
This content was originally published by our partners at The News Crypto.