Monero Soared 7.7% After Falling In Mid-April

Monero (XMR) jumped 7.7% after slumping in mid-April (Photo; Doc. NewsBTC)

JAKARTA - Monero (XMR) shows its strength by rising from a prolonged decline in value. This privacy coin, which slumped in mid-April, is now surging with a strong bullish trend, signaling extraordinary resilience and adaptation in the midst of an uncertain market.

According to BitcoinNews information, after a period of decline that has worried many investors, Monero gave a positive signal with an increase of 7.7% in the last 24 hours and an increase of 16.5% in the past week. On April 13, XMR was trading at 115 US Dollars (approximately IDR 1.8 million) per unit, but today it has reached 181 US Dollars (approximately IDR 2.9 million), indicating a strong recovery and confidence of recovered investors.

Despite facing tough challenges this year, such as removing from the centralized exchange, Monero continues to show stable growth. Significant hashrate fluctuations do not prevent the rise in XMR prices from continuing to climb.

The Endgame operation by Europol, which targets botnets and shuts down more than 100 servers, briefly lowered its XMR hashrate in May. However, Monero remains resilient, with a 37.8% increase in the US dollar in the last 30 days, and 24-hour trading volume of around 128.82 million US Dollars (approximately IDR 2 trillion).

The most active exchange for Monero on June 10, 2024 is HTX, with the trading volume XMR doubling since June 9. Tether (USDT) became the most popular trading pair, covering 82% of total XMR trading, showing increased diversification and liquidity in the Monero ecosystem.

XMR graphs show a strong bullish trend across a wide range of time frames. On the daily graph, there has been a significant upward movement since mid-May, with prices rising from about 130 US Dollars (approximately IDR 2.1 million) to 181 US Dollars (approximately IDR 2.9 million) today. Key support levels are at 170 US Dollars (approximately IDR 2.7 million), 160 US Dollars (approximately IDR 2.6 million), and 150 US Dollars (approximately IDR 2.4 million), with subsequent resistance levels at around 190 US Dollars (approximately IDR 3 million).