[Feb. 2019] Monero Price Prediction

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%. 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? Monero price prediction is very hard to be 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 February 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

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 is today, 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.