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- 1 Monero coin price decreased by 2.79% in the last week and is trading above major EMAs.
- 2 The price of the XMR coin is trading at $151.680 and the 52-week trading range is between $116 – $188.
Monero has released a new version of its graphical user interface (GUI) software, v0.18.3.1 by October 7th, 2023. The main feature of this update is the support for macOS ARM devices, which are the latest Mac models with Apple’s own chips.
This allows users to run the Monero GUI software natively on their machines, without the need for emulation or compatibility layers.
The new version also brings several bug fixes and improvements to the Monero GUI software, which is the easiest way to interact with the Monero network and manage one’s funds.
Some of the notable changes in Monero GUI are better error messages when users try to scan an old transaction using an untrusted daemon, A new image that shows when users select the Ledger Stax option in the wizard, More detailed messages when users encounter failures while using P2Pool, An update of the Qt framework to version 5.15.10, and An update of the P2Pool software to version 3.7.
Therefore, the new GUI update enables Mac users with Apple chips to access Monero coin’s (XMR) privacy and security features, which might increase its value if the update is well-received by the users.
XMR coin is the currency of Monero, a cryptocurrency that focuses on privacy and uses sophisticated cryptography to conceal the identities and transactions of its users.
XMR crypto plummeted 1.37% in market value and surged by 28.09% in trading volume in the last 24 hours, as per CoinMarketCap, which is a crypto data and info website. Its market value is $2,775,218,510 and its trading volume is $39,031,406. There are 18,345,405 XMR in circulation.
Furthermore, Monero (XMR) open interest is $26.35 Million, as per Coinglass, which is a crypto analysis website. It rose 3.17% in the last session. The long versus short ratio for 24 hours is 0.9272. The total number of short positions added in the last 24 hours is $14,928.043 against longs of $4,553.234.
XMR Coin Price Technical Analysis in the 1-Day Timeframe
In the last month, XMR rose by 2.12%, showing its resilience and demand in the crypto market. However, in the last six months, it fell by facing challenges and pressures from other cryptocurrencies that also offer privacy features, such as Zcash and Dash.
Still, Monero has a positive year-to-date return of 2.71%. This means that Monero has kept its value and appeal over the long term, and could have more room for growth in the future.
If the XMR price cannot maintain the current level, it may continue to decline and reach new support levels at $135.257 and $125.205, according to the technical analysis.
However, if the XMR price stays stable and breaks above the previous high, it may rise and surpass the previous resistance levels of $160.108 and $168.841, according to the trend analysis.
At the time of publishing, Monero (XMR) is trading above the 20 and 50-day EMAs (exponential moving averages).
The MACD line at 1.790 and the signal line at 1.926 are above the zero line both lines cross each other showing a bearish crossover observed in the MACD oscillator, where the histogram width is lean showing consolidation.
The current value of the RSI is 52.67 points and the 14-day SMA is below the median line at 59.19 points, showing the curve is taking rejection from 14 SMA, but at a neutral line indicating neutral symptoms in the price.
Conclusion
XMR price action highlights a sideways view at the time of publishing. The technical parameters of the XMR price suggest the continuation of the consolidation over the daily time frame chart. Moreover, the XMR price highlights the neutral sentiments and perspectives of investors and traders regarding the coin in the daily time frame.
Technical Levels
- Support levels: $135.257 and $125.205
- Resistance levels: $160.108 and $168.841
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.