SUI Crashes 23% As September Unleashes Market Panic\u2014Is A Comeback Possible?<\/a><\/div>\nThe coin\u2019s trading range is pretty weak as the bears are gathering momentum to cancel out short-term gains. Long-term, however, it seems that XMR bulls will rest and gather momentum before another attempt to regain lost ground.\u00a0<\/span><\/p>\nAs it currently stands, XMR eyes a breakthrough on $190 in the short term, providing a support level for the bulls to prepare for a strong upward movement. After this movement, investors and traders can target $200 in the long term.\u00a0<\/span><\/p>\nHowever, if XMR succumbs to the bearish momentum within the market, the coin might retrace back to $164 with more possible losses in the short term.<\/span><\/p>\nFeatured image from Chainalysis, chart from TradingView <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"A strong outlier in the current market situation, Monero (XMR) moves against the broader downturn that plagues the market. According to CoinGecko, Monero gained nearly 13% since last week, putting the coin under the spotlight as one of the strongest gainers within the bear market.\u00a0 Related Reading: RENDER Flashes Red With 18% Short-Term Loss \u2013 Details Monero\u2019s simplicity lends itself to its focus on privacy and reliability, providing great value for both investors and users of the platform. This led to Monero\u2019s semi-autonomous price movement which might continue despite the market\u2019s bearish nature.\u00a0 Monero Utilization Jumps On CoinCards CoinCards, a gift card vendor, recently released some statistics about cryptocurrency use on its platform. According to the platform, Monero has the monopoly beating Bitcoin in utilization. This huge utilization is due to Monero\u2019s simplicity and utility, garnering the attention of analysts on X.\u00a0 Although the market is overwhelmingly bearish, analysts show bullishness with predictions about XMR\u2019s future performance.\u00a0 \u201cWhile everything else looks like pre-death, the privacy coin is making higher lows and higher highs. Complete decoupling from the market,\u201d said Crypto Van Der Linde, a cryptanalyst on the X platform.\u00a0 Although Binance and Kraken have delisted XMR for their customers, the token still has a large user base that is mostly concerned with their privacy. With more individuals considering privacy to be a core issue, we might see cryptocurrency users using XMR despite its downsides of slow transaction times.\u00a0 Rally Turns Sluggish As of writing, Monero is well between the $170-$174 trading range giving the bulls a great position for more upside potential. However, the market\u2019s bearishness has bled through to XMR\u2019s market, slowing down gains in the long term.\u00a0 XMR\u2019s less-than-significant correlation with Bitcoin makes the coin more attractive to investors scouring the market for profit-generating cryptocurrencies within the bearish market. The relative strength index (RSI) shows that although the coin has bullish momentum, XMR bulls are nearing exhaustion in the short term.\u00a0 Related Reading: SUI Crashes 23% As September Unleashes Market Panic\u2014Is A Comeback Possible? The coin\u2019s trading range is pretty weak as the bears are gathering momentum to cancel out short-term gains. Long-term, however, it seems that XMR bulls will rest and gather momentum before another attempt to regain lost ground.\u00a0 As it currently stands, XMR eyes a breakthrough on $190 in the short term, providing a support level for the bulls to prepare for a strong upward movement. After this movement, investors and traders can target $200 in the long term.\u00a0 However, if XMR succumbs to the bearish momentum within the market, the coin might retrace back to $164 with more possible losses in the short term. Featured image from Chainalysis, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":639828,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,428,6664,7369,9421],"class_list":["post-639820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-crypto","tag-monero","tag-xmr"],"acf":[],"yoast_head":"\n
Monero (XMR) Unfazed By Market Jitters, Climbs 12% - Details<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n