Monero (XMR) is trading at $172.80, down 4.61% with a low of $171.473 and a high of $183.58 in the last 24 hours. The crypto has a market capitalization of $3,126,923,853, and a price nearing the $170 resistance threshold. According to Coindesk’s price research, bearish swings are back, and price increases have been slower than in previous months because of the downward trend. Monero is going bearish again following a decrease in the XMR/USD market, as a result of negative news coming from Canada. Monero (XMR) Bullish Indicators At the time of writing, technical analysis by CoinCodex shows that short-term sentiment on XMR has become neutral, with 17 indicators flashing bullish signs versus 12 bearish signals. According to TradingView data, the daily simple and exponential moving averages are showing buy signals, while the relative strength index (RSI) was at 55.4 as of February 16. A reading of 30 or less on the RSI suggests that the market is experiencing an oversell. XMR total market cap at $2.964 billion in the daily chart | Source: TradingView.com Related Reading | Monero Featured In Last Week Tonight, Essential Tool In “Ransomware Economy”? Due to adverse market movement, the cryptocurrency has shown a slow decline. The price has been falling in the previous hours as the negative trend rises. Experts describe Monero’s overall market position as “less lucrative.” Canadian Emergencies Act D...
