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Monero Price: XMR A Top Gainer As The Market Soars - Bulls Pushing Higher And Higher. Tuesday, November 6th

06 november 2018, 11:06 by John Kiguru

Monero A Top Gainer As The Market Soars- Bulls Pushing Higher And Higher

The bulls have remained relentless for the past couple of hours. Yesterday, November 05, has seen most coins surge in prices. Leading the way has been Monero which has at some point of the day, been up by 4%. In last three days the price increased by 7%. At the time of press, XMR is currently being valued above $112.57.

XMR/USD Price Chart, Tuesday November 6th:

Monero XMR Price Chart, November 6th

How High Can Monero Go?

The last couple of weeks have seen Monero fall as low as $98 which came in mid-September. This was followed by a recovery that saw the coin soar as high as $126 before the bulls found resistance. For the majority of October, the coin has been experiencing sideways action with prices remaining above $101 and finding resistance at $115.

The bulls will be pushing to break the $115 level and going back to September’s highs of $137. If the bulls can push prices and break the $115 resistance level, there is no telling how high prices could go. They will have triggered a demand for the coin and prices could surge to highs of $120 in hours or minutes. With this recent surge, holders are expecting that the coin will establish higher support levels and the coin doesn’t fall below $100 anytime soon.

At the time of press, the coin has a market cap of $1,839,851,841, ranking 9th in the market. This makes Monero arguably the largest privacy-oriented cryptocurrency in the world. The coin has previously received support from big names such as Charlie Lee- Founder of Litecoin. In a recent Tweet, Ricardo Spagni- creator of Monero, has hinted on an alliance between Litecoin and Monero. If this was to be, it could prove beneficial for both projects.

Monero’s all-time high value- achieved at the beginning of the year, is $494 and although the coin is unlikely to end the year at this value, it could still end on a high of over $200.

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