Monero (XMR) Price Slides As Canada Includes Crypto In Emergencies Act
2022年2月18日 - 10:17PM
NEWSBTC
Monero (XMR) is trading at $172.80, down 4.61% with a low of
$171.473 and a high of $183.58 in the last 24 hours. The crypto has
a market capitalization of $3,126,923,853, and a price nearing the
$170 resistance threshold. According to Coindesk’s price research,
bearish swings are back, and price increases have been slower than
in previous months because of the downward trend. Monero is going
bearish again following a decrease in the XMR/USD market, as a
result of negative news coming from Canada. Monero (XMR) Bullish
Indicators At the time of writing, technical analysis by CoinCodex
shows that short-term sentiment on XMR has become neutral, with 17
indicators flashing bullish signs versus 12 bearish signals.
According to TradingView data, the daily simple and exponential
moving averages are showing buy signals, while the relative
strength index (RSI) was at 55.4 as of February 16. A reading of 30
or less on the RSI suggests that the market is experiencing an
oversell. XMR total market cap at $2.964 billion in the daily chart
| Source: TradingView.com Related Reading | Monero Featured In Last
Week Tonight, Essential Tool In “Ransomware Economy”? Due to
adverse market movement, the cryptocurrency has shown a slow
decline. The price has been falling in the previous hours as the
negative trend rises. Experts describe Monero’s overall market
position as “less lucrative.” Canadian Emergencies Act Deals Blow
On XMR Canadian Prime Minister Justin Trudeau’s imposition of the
country’s Emergencies Act is taking a heavy toll on several
cryptocurrencies, including Monero (XMR). The crypto joins a list
of other key digital assets the Canadian government bans in the
face of ongoing protests in Ottawa by the Canadian Freedom Convoy
(CFC). Related Reading | Monero (XMR) Readies For A Breakout As It
Touches Important Milestone Authorities want to reduce the amount
of money protesters allegedly utilize, which comes from assets and
contributions of digital currencies like Bitcoin, Cardano and
Monero. An emergency measures act has been passed to ban future
funding to trucker-based activists who are opposing the country’s
COVID-19 vaccine mandate. Monero (XMR), according to reports, is
being used to sponsor the protesters, who have so far received
$870,000 to $1.1 million in cryptocurrency donations. Because of
its decentralized status and low charges, a good number of donors
choose to pay for their donations using cryptocurrencies such as
Monero. Monero (XMR) Seen To Make Strong Rally Meanwhile, analysts
anticipate that the value of XMR will likely climb between now and
the end of 2022. Based on current data and the coin’s recent
successes, the majority of cryptocurrency experts predict that the
price of Monero will rise in the near future. The combination of
technology and positive crypto market dynamics gives XMR a strong
possibility of becoming one of the most traded cryptocurrencies
this year. Monero is in high demand as a mode of payment on the
dark net, primarily because it provides a high degree of anonymity
in terms of transactional information. Featured image from Reddit,
chart from TradingView.com
Monero (COIN:XMRUSD)
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