Monero Price Analysis – A Dead Cat Bounce In Play?

It appears the tide is turning for Monero all of a sudden, as the price per XMR continues to go up once again. After yesterday’s bitcoin bull run, it appears altcoins are slowly recovering and improve their position on the market. Now that XMR is trading around the US$19. 5 mark once again, things are looking quite positive for Monero holders.

Monero Bounces Back Temporarily

Even though the bitcoin price has not shown any signs of decline just yet, altcoin prices are going up once again. That is great news for anyone who owns Monero or any other cryptocurrency, though. As a result of this sudden bounce, the price per XMR has climbed up to US$19.5 once again. The bigger question is whether or not this level can be maintained in the long run.

It is a bit unclear why Monero is going up in value, even though a similar trend is visible across all other altcoins. Monero’s value even surpassed the US$20 mark earlier today, although that price level could not be sustained for longer than a few hours. That is not entirely surprising, as the bitcoin value continues

Read more ... source: LiveBitcoinNews

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