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MONERO Price Analysis: XMR Token Hangs Near Daily 200 EMA, Death cross awaits

XMR

  • The XMR token price is confined within the $200-$300 range as the volume expands.
  • The coin price is trading below all the critical EMAs in the 4-hour technical chart.
  • The XMR/BTC pair is trading at 0.007352 BTC with an intraday down move of 3.21%. 

XMR Token price ranges between $200-$300 with the recent expansion in volume. The coin price recently faced opposition from the $300 and downfalls below all the critical EMAs in the 4-hour technical chart. 

The XMR Token might again find support near the $200 level, resulting in expanding the range. However, a downfall might be possible, resulting in another 100 points fall. Presently the token trades at $257 with an intraday gain of 3.50% in market cap. 

As per the 4-hour timeframe, the coin price struggles below all the significant EMAs – 20, 50, 100, 200 and fails to rise above them. However, in the daily chart, 200 EMA halts the downtrend, but the sloping 50 EMA projects Death Cross in the coming future.

The relative strength indicator is trading near 48, heading higher and projecting a bullish momentum in the coin price. 

The ADX also indicates a strong trend movement. 

 XMR Token Team Gets Half A Million Dollars In Donation

$500,000 Received As Anonymous Donation

The unknown benefactor granted 1711 XMR ($486,600) to the Monero project.

Monero contributor binary fate authenticated that the transaction was not a change output from any of the fund’s transactions but rather a payment from an external origin.

Total Amount Held In The Fund?

The transparency statement from June 2020 notes that the reserve held 2108.12 XMR the previous year, presently worth approximately $599,800. Furthermore, the repository maintains a Bitcoin address that has 0.09 BTC ($3,200). Ultimately, the 1020 XMR ($277,000) donation was welcomed to the fund last month.

The current $500,000 donation will considerably increase the Monero General Fund’s size in light of that data.

The Monero General Fund BinaryFate received this donation and remarked that this capital is managed and escrowed by the Core Team, which dispenses grants as it sees fit to benefit the Monero project.

How The Team Will Use The Funds?

Beforehand, Monero’s General Fund has been used to compensate for web services and hosting and for tools such as ARM build bots.

Share of the capital maintains one salary. While the Monero core team members do not receive wages, the project employs Diego “Rehrar” Salazar as a contractor, who does receive reimbursement.

BinaryFate, principally accountable for the fund, declared that Monero would issue a transparency statement this month, providing the public with some clarity of donation’s use.

Conclusion – XMR Token price is within a range, and the Death Cross possibility in the daily time frame might result in the fallout of the $200 level. The breach might result in another 100 points fall as the next prominent support level is at $100. 

Support – $200 and $100

Resistance– $300 and $370


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