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The Monero price dropped 2% to trade for $141.04 as of 02:31 EST time to make it the biggest loser among major cryptos.
According to analyst @AndrewGriUK on X, a price above $141 supports a bullish trend direction. With this, the analyst anticipates an increase in long exposure for a break above 150.
#XMR A price action above 141 supports a bullish trend direction.
Increase long exposure for a break above 150. This level is also the 61.8% Fibonacci retracement level.
The target price is set at 163 (its 78.6% Fibonacci retracement level).
The stop-loss level is set at 129… pic.twitter.com/NrJAt1147m— Andrew Griffiths (@AndrewGriUK) March 25, 2024
This is plausible considering the network also has plans for a Monero meet-up in Barcelona on April 6.
Monero Price Prediction Ahead Of Network’s First Meet-up In Barcelona
The Monero price has recorded massive volatility over the last several weeks. Two Fibonacci retracement indicators have been superimposed against each other to measure the market range. With this, the Monero price is likely to retrace the mean, marked by the 50% Fibonacci placeholder at $131.62, after which the altcoin’s market value could go towards either side of the range.
The market is currently leaning to the downside, as shown by the Relative Strength Index (RSI) still subdued below the ‘0’ mean level. The Awesome Oscillator (AO) indicator also accentuates this outlook, as it is also consolidating along the midline, pointing to uncertainty in the market.
TradingView: XMR/USDT 1-day chart
On the other hand, the bulls could push the Monero price above the 50% Fibonacci placeholder at $141.82. A daily candlestick close above this level would encourage more buy orders, likely provoking a continued uptrend.
In such a directional bias, the Monero price could extend the gains toward the $153.78 peak, levels last tested on March 3. This would constitute a 10% climb above current levels.
Meanwhile, Smog, a new Solana meme coin, has gone ballistic with a 232% monthly gain.
Promising Alternative To Monero
The Smog token has captivated audiences since its debut. Having set the bar high at launch, its hallmark is to deliver the largest airdrop in the history of the Solana ecosystem.
To qualify for the airdrop, SMOG token holders must actively engage in task managed by Zealy. To this end, the project has allocated 35% of the total token supply of 1.4 billion. The first part of the airdrop that ends on April 3 is understood to include about $1 million in giveaways.
🔥🐉 HUGE AIRDROP ANNOUNCEMENT 🐉🔥
Season 1 of $SMOG airdrop will end on April 3rd 👀
Season 2 starts NOW! #SmogSwap will be more weighted to buying and holding $SMOG 💸
Complete @zealy_io quests to take part! 📢https://t.co/JTtFnpOgL1 pic.twitter.com/xFhJr5f9KT
— Almighty (@Almighty_Gives) March 18, 2024
The number of airdrop task completions on Zealy has exploded to almost 3 million, while it now has 107k holders and a cross-platform community of 106K. Smog’s market capitalization has soared to $145 million to make it the 22nd largest meme coin.
The best place to buy Smog is on the official website here, where there is a 10% discount. But hurry to catch the deal before it ends.
Also Read:
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