Monero (XMR) Price Prediction 2022 — Will XMR Hit $165 Soon?
- Bullish XMR price prediction is $170.4 to $255.4.
- Monero (XMR) price might also reach $165 soon.
- Bearish XMR price prediction for 2022 is $104.3.
In Monero (XMR) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about XMR to analyze the future movement of the cryptocurrency.
Monero (XMR) Current Market Status
According to CoinGecko, the price of Monero (XMR) is $156.59 with a 24-hour trading volume of $347,021,986 at the time of writing. However, XMR has decreased by nearly 1.6% in the last 24 hours.
Moreover, Monero (XMR) has a circulating supply of 18,147,820 XMR. Currently, Monero (XMR) trades in cryptocurrency exchanges such as Binance, DigiFinex, OKX, WhiteBIT, KuCoin and Gate.io.
What is Monero (XMR)?
Monero cryptocurrency (XMR) was established in 2014, which is open-source and focuses on privacy. Its blockchain is opaque, which makes transaction details and amounts anonymous by masking the addresses used by participants.
Investors can mine Monero using their own CPUs, which means they don’t need to pay for special hardware. The mining process for Monero is based on an egalitarian concept where all are equal and deserve equal opportunities.
Monero (XMR) Price Prediction 2022
Monero (XMR) holds the 29th position on CoinGecko right now. XMR price prediction 2022 is explained below with a daily time frame.
The above chart of Monero (XMR) laid out the symmetric triangle pattern. A symmetric triangle pattern is formed by two converging trendlines. In this pattern the upper trendline of the triangle connects the highs. Lower trendline of the triangle connects the lows.
Currently, Monero (XMR) is in the range of $155.1. If the pattern continues, the price of XMR might reach the resistance levels of $158.9, $166.4 and $172.7. If the trend reverses, then the price of XMR may fall to $139.6 and $133.7.
Monero (XMR) Support and Resistance Levels
The chart below shows the support and resistance levels of Monero (XMR).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Monero (XMR).
| Resistance Level 1 | $170.4 |
| Resistance Level 2 | $210.2 |
| Resistance Level 3 | $255.4 |
| Support Level 1 | $139.9 |
| Support Level 2 | $104.3 |
The charts show that Monero (XMR) has performed a bullish trend over the past month. If this trend continues, XMR might run along with the bulls overtaking its resistance level at $255.4.
Accordingly, if the investors turn against the crypto, the price of Monero (XMR) might plummet to almost $104.3, a bearish signal.
Monero (XMR) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Monero (XMR) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of XMR lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Monero (XMR) is shown in the chart above. Notably, Monero (XMR) price lies above 50 MA (short-term), so it is completely in an uptrend. Currently, XMR has entered a bullish state. Therefore, there is a possibility of a reversal trend of XMR at any time.
Meanwhile, the relative strength index (RSI) of the XMR is 63.49. This means that Monero (XMR) is in an overbought state. However, this means a major price reversal of XMR may occur in the upcoming days. So, traders need to trade carefully.
Monero (XMR) Price Prediction 2022 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Monero (XMR). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Monero (XMR). Currently, the ADX of XMR lies in the range of 21.4 and thus, it indicates a weak trend.
The above chart also represents the Relative Volatility Index (RVI) of Monero (XMR). RVI measures the constant deviation of price changes over a period of time. The RVI of XMR lies above 50, indicating high volatility. In fact, the RSI of Monero (XMR) is at 63.49 thus confirming a potential sell signal.
Comparison of XMR with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Monero (XMR).
From the above chart, we can interpret that the price action of XMR is similar to ETH. This indicates that when the price of ETH increases or decreases, the price of XMR also increases or decreases respectively.
Monero (XMR) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Monero (XMR) might probably attain $170 by 2023.
Monero (XMR) Price Prediction 2024
With several upgrades in the network, Monero (XMR) might enter a bullish trajectory. If the coin grabs the attention of major investors, XMR might rally to hit $180 by 2024.
Monero (XMR) Price Prediction 2025
If Monero (XMR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, XMR would rally to hit $190.
Monero (XMR) Price Prediction 2026
If Monero (XMR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, XMR would rally to hit $200.
Monero (XMR) Price Prediction 2027
If Monero (XMR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, XMR would rally to hit $210.
Monero (XMR) Price Prediction 2028
If Monero (XMR) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, XMR would hit $220 in 2028.
Monero (XMR) Price Prediction 2029
If investors flock in and continue to place their bets on Monero (XMR), it would witness major spikes. XMR might hit $230 by 2029.
Monero (XMR) Price Prediction 2030
With greater advancements in the Monero Ecosystem, the crypto community might continue to invest in XMR for the next 8 years and drive significant price rallies for the token. Hence, Monero (XMR) might hit $240 by 2030.
Conclusion
With continuous improvements in the Monero network, we can say that 2022 is a good year for XMR. For this reason, the bullish price prediction of Monero (XMR) in 2022 is $255.4. On the other hand, the bearish price prediction of Monero (XMR) price prediction for 2022 is $104.3.
Furthermore, with the advancements and upgrades to the Monero ecosystem, the performance of XMR would help to reach above its current all-time high (ATH) of $542.33 very soon. But, it might also reach $165 if the investors believe that XMR is a good investment in 2022.
FAQ
Monero is a privacy-centric cryptocurrency based on the CryptoNote protocol, which is a secure, private and undetectable currency system.
XMR has listed on many crypto exchanges which includeBinance, DigiFinex, OKX, WhiteBIT, KuCoin and Gate.io.
With the ongoing developments and upgrades within the XMR platform, it has a high possibility of reaching its ATH soon.
On Jan 09, 2018, XMR reached its new all-time high (ATH) of $542.33.
Monero seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of XMR in the past few months, XMR is considered a good investment in 2022.
Monero (XMR) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Monero (XMR) will hit $165 soon.
Monero (XMR) price is expected to reach $170 by 2023.
Monero (XMR) price is expected to reach $180 by 2024.
Monero (XMR) price is expected to reach $190 by 2025.
Monero (XMR) price is expected to reach $200 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
