Monero News and Price Analysis: Vulnerabilities Found During Wallet Audit. Saturday, July 28
Important Monero News
Monero to Fix Vulnerabilities Found During Wallet Audit
The Monero web wallet announced that the vulnerabilities uncovered during an audit conducted by an independent provider has now been taken care of.
The audit was conducted by New Alchemy, a blockchain strategy and technology advisory group which found a number of bugs that could result in security issues for the wallet. In its report, the firm reported “The XMRWallet application exhibits a high-quality user experience, a modern development approach, and a clear separation of client and server functionality.
However, the security review has identified a number of potential vulnerabilities .”
Although the company reported that the severity of the flaws varied, it concluded that all the seven issues discovered were fixed.
Bearish Pressure Disrupts Monero Price Surge
Monero is trading at $135 after experiencing some bearish pressure against the USD. The price is in a key demand area below two broken EMAs. This is indicative of a bearish market.
With the signals moving down, the stochastic oscillator is at 9 percent oversold region.
In consolidation, the moved to $142.63 which was in the supply area with $132.35 representing the demand area.
Consolidation is a cautious period due to the uncertainty associated with breakout point. This could occur at the upper or lower price range even though no one would know for sure, it is wont to be imminent.
In the short range, the coin traded at $139.94 as bearish pressure bore on the price towards the close of the market on Thursday. The pressure created a lower range of $136.69 which was later broken creating a lower range below it at $135.39.
A bullish hammer which shows consolidation showed the coin trading between $145.47 and $136.69 according to the price analysis of Azeez M from Bitcoin Exchange Guide. A breakdown or a breakout will materialize to confirm long positions.
XMR/USD Price Chart, Saturday July 28th:
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