Price Predictions

Monero Price Prediction June, July & August: This is When XMR Price May Regain it’s Value Above INR 10,000

Monero Price Prediction June, July & August

Key Takeaways

  • The Monero(XMR) price closed the previous day’s trade at INR 9220.8 with a market capitalization of INR 174.11 billion and a circulating supply of 18,134,860.99 XMR
  • The XMR price is extremely bearish and appears to be primed to shed out another 10% to 15% of its value by the end of June
  • The upcoming month may witness a brief consolidation while the price may begin with a significant upswing from the beginning of August

Price Comparison Table

Crypto-Asset Start-Month Price (May) Mid-Month Price (May) End-Month Price (May) % Change
Monero (XMR)  INR 16,209.8 INR 13,319.3 INR 15,385.8 -5.35%

* As of 15-June-2022

Monero (XMR) Technical Analysis at a Glance

Monero’s price after reaching the yearly highs above INR 21,000, dropped heavily by more than 50% within a month. Further, despite a rebound, the asset fell drastically to the lowest levels that it had not visited in the last 18 months. Therefore, the upcoming trend is also assumed to be pretty bearish with the prices sliding down to discover new lows ahead. 

Short-Term (1hr) The XMR price is heading strongly towards the lower support after slicing through pivot levels in the early trading hours
Mid-Term (4hr) The descending trend appears to be eased for a while ahead as the asset appears due for a short-term bounce
Long-Term (D) The selling pressure has accumulated and hence a strong descending trend may be well in place for Monero price

Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1D / 1M) Action (1D / 1M)
Relative Strength Index(RSI) 22.88 / 42.43 Oversold / Sell
MACD(12,26) -15.38 / 790.2 Sell / Buy
Average Directional Index(ADX) 55.18 / 36.62 Sell / Sell
Bull-Bear Power -87.75 / -4676.9  Sell / Sell

Pivot Levels

Pivot Levels Short-Term(D) Mid-Term(W) Long-term(M)
Moving Average(MA)-50 INR 14169.8 INR 16,280.3 INR 9939.3
Moving Average(MA)-200 INR 14692.9 INR 10019.5 INR 2715.1
Resistance INR 16,160 INR 22,090.1 INR 23,411.6
Support INR 7559.8 INR 6067.9 INR 4567.32

Oscillators

Oscillators Short-Term Mid-term Long-Term
Stochastic Oscillator 38.33 30.105 29.04
Ultimate Oscillator 27.73 35.47 42.61
Average True Range(ATR) 1006.42 3177.25 8005.34
CCI -214.21 -181.58 -163.83

The Monero (XMR) price currently is extremely bearish in all the time frames. As the price has dropped below the crucial levels, the possibility of a rebound is pretty less. Moreover, the indicators heavily point out toward ‘sell’,  with less volatility and hence the descending consolidation may continue for a long. Therefore, after shedding massive gains, the asset may rebound firmly as the market conditions settle out which may take a couple of months. 

XMR Price and Technical Analysis for May-July

Source: Tradingview

  • The XMR/USDT chart displays huge possibilities of continuing with the bearish trend ahead as the asset has broken down the crucial support at INR 9232
  • Therefore, the price could continue sliding towards the lower support somewhere close to INR 7600 and expect a rebound in the last week of June
  • Here if the prices fail to hold could continue with the descending trend throughout July to test the last point of defense above INR 5000 at INR 5968 
  • By the end of July, the asset may gain some bullish momentum and rise high to test a couple of higher resistance levels by
  • Further with the beginning of August’s trade, the price may again fall into the same bearish trend but the lower support at INR 7600 may be held strong

How to Invest in Monero(XMR)

Buying, selling or investing in Monero (XMR) is pretty simple and safe on CoinDCX. By registering with CoinDCX you can get the best deals in the market along with lucrative in-App features and attractive benefits. All you need to do is just download the CoinDCX App on your smartphone and enter the required details. 

Once your profile is verified, fund your wallet and buy Monero(XMR). Investing in any of your desired crypto assets is very easy with CoinDCX’s Crypto Investment Plan(CIP). Here you can invest in easy weekly installments. Therefore, start in Bitcoin & other cryptos with Crypto Investment Plan now!


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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