Frankly speaking, Monero [XMR] does well in a such bearish environment, resulting from sell pressures, which impact most coins, under current circumstances. Satis Group published a forecast, as a research company, which in turn resulted in an upward trend for the coin. This prediction indicated that XMR will reach $18,000 within the next five years. The price of XMR had increased for almost 37% during the last week.
First, there was a support at $119.56, and then there occurred a short consolidation period. On the other hand, the coin had a flashing rise headed towards the level of $130. Such momentum will result in reaching $140 if maintained.
At press time, the crypto was highlighted by the 100 EMA line for having an upward trend. The coin was shown to be traded in the bullish territory by the MACD. $118.87-$135.22 is quite remarkable as a trading range for a digital asset. Its virtual value had risen 10.3% in the face of the U.S. dollar, which equals to be trading at $133.43, by 17:48 GMT.
At press time, XMR had risen 10%, when compared to BTC. Now, XMR equals to an approximate 0.0183 BTC.
Price Forecast for Monero [XMR] for 2018, 2020
This altcoin is predicted to reach an approximate $350-$400 by the end of this year according to Profitconfidential.
Smartereum indicates that the experts are saying that XMR might reach the level of $650 by the end of this year. In five years, XMR is expected to be trading at an approximate $2,000.
The coin is expected to be trading within the range of $554-$638 in April 2020 and will keep its upward trend to reach $810-$945 as of December 2020, according to Longforecast.