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[Feb. 2019] Monero Price Prediction – Does the Level of $40 Look Like a Bottom?

  • Stavros Georgiadis
    📈 Price Predictions

    Monero (XMR) has seen a very tough year, declining from $253.76 back in February 1, 2018, to the recent price of $43 as of February 2019, a loss of -83%


[Feb. 2019] Monero Price Prediction – Does the Level of $40 Look Like a Bottom?
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Monero (XMR) has seen a very tough year, declining from $253.76 back on February 1, 2018 to the recent price of $43 as of February 2019, a loss of -83%. For 2019, the year-to-date performance is -5.56%, as it started the year with a price near $46. Can the level of $40 act as a real bottom for 2019? A Monero price prediction is very hard to get accurate, but in this article, we will present some scenarios based on the estimated of various sources and on our technical analysis.


Key facts as of Feb. 1, 2019:

·        Market Cap: $734,639,891 USD, 211.052 BTC

·        Volume (24h): $33,024,942 USD, 9.488 BTC

·        Rank 13 on CoinMarketCap based on the top 100 cryptocurrencies by market capitalization

·        52 Week Low - 52 Week High: $38.5789- $380.2306

Monero price prediction February 2019

Some Monero price prediction ranges from various sources worth mentioning are:

·        Long Forecast estimates that Monero will have an open price of $43.58, a low-high range of $37.80-$47.11 and a close price of $41.88, having a monthly decline of -3.9%. A very conservative monthly Monero price prediction with low expected volatility.

·        Trading Beasts has the following XMR price prediction for February 2019. The price is expected to reach $147.09 by the beginning of February 2019. The expected maximum price is $188.24, minimum price $128.01. The Monero price prediction for the end of the month is $150.60. This is a much more optimistic projection.

·        Crypto Ground has a monthly forecast of $44.1853, a gain of 1.55% for Monero.

·        DigitalCoin predicts a price of $65.51 USD.

·        Previsioni Bitcoin forecasts a minimum value of $46.15 for Monero this month. However, they have an overall very optimistic view as they mention, “On February 2019, Monero may heavily boost its price. We assume as high predictable a mass adoption of this cryptocurrency next months. We expect on February 2019 a Monero rise with a strong capitalization and consequently a concrete value per coin increase.”

With all these prediction ranges from the above sources, the question to ask is whether the level of $38-$40 for Monero will be a real bottom and if its price will bounce this month. Our technical analysis for an unbiased Monero forecast for the upcoming month is based on two scenarios.

Monero price prediction optimistic scenario based on technical analysis
 Monero price prediction weekly chart

The optimistic scenario is that there is strong support near the level of $42.50, and the Stochastics indicator (14,3,3) is in oversold levels, having made a bullish crossover. If a bounce is to occur, then targets are the levels of $45.90, $46.80 and $49.55.
Monero price forecast

The optimistic scenario is that there is strong support near the level of $42.50, and the Stochastics indicator (14,3,3) is in oversold levels, having made a bullish crossover. If a bounce is to occur then targets are the levels of $45.90, $46.80 and $49.55. The level of $49.55 is where the 50-day exponential moving average was on February 1, 2019 and should be a strong resistance. The Momentum indicator is flat, and the strength of the trend, a dominant downtrend is not strong. A pause for the downtrend is very likely.

Monero price forecast pessimistic scenario based on technical analysis

The ADX/DMI indicator, which measures the strength of the trend, shows that although the strength of trend has weakened, the dominant trend is a downtrend. The -DI line is above +DI line with values of 20.05 and 15.09 respectively. The price is now in a consolidation phase which started on January 13, 2019 and continues to today, with a range of high-low price of about $42-$47.33.

The MACD indicator is flat, but both 20-day and 50-day exponential moving averages are declining, indicative of a dominant downtrend. The fact that Monero’s price has not been able to make a significant bounce off the low level near $42.30 for several days indicates a lack of buying interest. If the support near $42 breaks, then a retest of the low level near $37.50 is likely to be retested. This scenario has higher odds for now.

The weekly chart supports this scenario, with a stronger downtrend and another target level near $36.45 if selling pressure resumes. Also, the level of $30.26 is another level to monitor if the downtrend continues in February.

An important reminder: this is not investment advice but only an educational article about Monero and its price forecast for February 2019.

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  • Denys Serhiichuk
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    Bulls are not going to pass the baton to bears. When should we expect a market reversal? The following price analysis will help you to answer this question


TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Market In Uncertainty or Bulls Are Back In The Game?
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The cryptocurrency market did not follow the scenario of last week and keeps trading near the zone of local maxima. Since the next pullback has not occurred and the growth continues, we can safely talk about the resumption of the qualitative upward trend.

At the same time, CME data show a decline in interest of investors involvement in Bitcoin futures.


As altcoins have recovered, BTC’s domination rate reduced and now is 52%.

BTC/USD

Technical analysis of Bitcoin shows moving to an important resistance level of $6,000. In the case of continued growth and breakdown of the upper boundary of the channel, we should expect the resumption of a full-fledged upward movement. In this regard, the RSI Prediction Band also indicates bullish tendencies.  

 BTC/USD chart by tradingview

Based on a 4-hour chart technical analysis indicates the formation of the Triangle pattern, which shows that BTC is unlikely to move below $5,250. In the case of the breakdown of the upper boundary of the model and closure above $5,500, one can expect continued growth with a potential goal of $5,700. An additional signal here is the test of the support line on the Relative Strength Indicator (RSI).

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The price of BTC is trading at $5,292.45 at the time of writing.

ETH/USD

The main altcoin synchronously with Bitcoin at night showed positive dynamics, as its price increased by more than 3%. The ETH/USD pair pushed away from the support of the 200th EMA at the level of $155 and rapidly soared above the fast 50th EMA at the area of $165.

ETH/USD chart by tradingview

One more resistance area is located at $174, the break of which will push the asset closer to a psychological zone of $190.00. A breakout of this level will indicate confirmation of a rise in
ETH/USD quotes.

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The price of ETH is trading at $171.63 at the time of writing.

XRP/USD

Among the top 3 coins, Ripple has shown the biggest growth over the past 24 hours. Investors and traders are showing interest in the coin, as its market capitalization has increased by around $300 million over the last day.

XRP/USD chart by tradingview

Taking into consideration a technical point of view, Fibonacci retracement shows a consolidation in the green area (61.8%) at $0.343, which serves a consolidation zone. The RSI indicator does not demonstrate the overbought and XRP has enough strength to conquer one more resistance level at $0.35. If the crypto market continues its bullish trend, Ripple will be able to come back to its previous highs.

The price of XRP is trading at $0.3396 at the time of writing.

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