Monero defies crypto market slump with 10% XMR price rally — What’s next?

2022.04.11 14:25

Monero defies crypto market slump with 10% XMR price rally — What’s next?

Privacy-focused cryptocurrency Monero (XMR) rallied by nearly 9.5% in the past week compared with the crypto market’s decline of 8.5% in the same period. The XMR/United States dollar pair has broken above a strong multi-month resistance trendline, hinting at more upside ahead.

XMR’s price was down by a modest 0.87% on April 10 from its two-month-high of $245 established a day before. However, the cryptocurrency still outperformed its top rivals including Bitcoin (BTC) and Ether (ETH) on a weekly timeframe.

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