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Monero {XMR} Talk brings in Andreas Antonopoulos as the latter examines the need for privacy

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Monero is ranked at #13 beneath TRON and Cardano in the market. The trading volume recorded stands at approximately $206.893 million, while the supply has 17,288,176 XMR coins involved as part of circulation. The total market cap of Monero amounts to $1.073 billion as of this very moment. The price rose at a rate of 4.46% in the course of the past 24-hours; this, in turn, caused XMR to shoot up and reach the $62.12 mark where it currently rests.

According to the candlestick chart connected to the XMR/USD pair on tradingview [based on data obtained from the Poloniex Exchange], the privacy-centric virtual currency is being backed by buyers for now [HODLers are probably relieved]. The daily RSI [for 14 periods] sits at 58.7 which indicates that Monero may step into overbought territory as the following week swings by.

From 7th October onwards, the MACD line has been prancing above the signal line, although the green histogram has fluctuated occasionally. However, the final 2 bars appear prominent, which can be interpreted as good news for bulls. Although, the peak tied to the Awesome Oscillator [linked with today’s performance] bears the brown shade, which signifies that bearish pressure might play a crucial role in the foreseeable future.

Resistance can be felt if $XMR can afford to ascend towards $64.98917, and next at $70.843266. Support lies adjacent to the $50.24315 mark. In my opinion, Monero can potentially rush past $65 if buyers effectively combat against selling forces.

We might witness the removal of RandomX by midsummer 2020. Monero Talk is a weekly discussion wherein the host usually brings in a renowned personality linked to the cryptosphere. Take a look at this, ladies and gentlemen:

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.