Monero Price Prediction:| Trending Viral hub

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Monero price fell 6% in the last 24 hours to trade at $123.00 as of 5:30 am EST, with trading volume falling almost 60%.

It comes after Binance announced plans to delist the XMR token on February 20, citing non-compliance with its listing criteria.

The delisting is not a surprise after Binance said in January that it had established “tracking tags” on Monero, among other tokens. In addition to Binance, OKX Exchange It also delisted Monero in January, along with privacy-focused coins like Zcash and Dash.

It comes as exchanges come under increased regulatory pressure to delist privacy coins. In an effort to survive the crackdown, some coins removed their privacy features, but the Monero ecosystem refused.

Monero Price Forecast

Monero price lost some of the ground covered on Wednesday amid early profit booking. It faces overall pressure due to the 50% Fibonacci level of $140.90 later. According to the relative strength index (RSI) perspective, momentum is falling as the RSI falls. Price strength is also weak considering the RSI is below 50.

Furthermore, both the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) are in negative territory. Its histogram bars are flashing red, suggesting the strong bearish grip bears have on XMR.

Further selling pressure could cause Monero price to extend the decline and lose the support offered by the 23.6% Fibonacci level of $119.70. In a severe case, the drop could send the XMR price to the bottom of the market range at $100.70. Such a move would denote a drop of almost 20% below current levels.

monero price

TradingView: XMR/USDT 1-day chart

On the other hand, if the bulls increase their buying pressure, the price of Monero could rise. Further buyer momentum could see Monero price rally north to regain the support offered by the 50% Fibonacci level at $140.90. A prolonged rally could push the XMR price above the all-important Fibonacci level of 61.8% to $150.40.

In a highly bullish case, gains could push the altcoin above the 78.6% Fibonacci level at $163.90. For the bearish outlook to be invalidated, the altcoin market value must record a higher high above the $181.00 level.

Promising alternative to Monero

Even as Monero price determines its next move, attention is shifting to the TUK token, the native cryptocurrency eTukTuk ecosystem. According to analysts, TUK is among best crypto ICOs of 2024.

eTuktuk is the future of eco-friendly and AI-integrated transportation, allowing you to invest and make money immediately.

The project provides entry into a sustainable transportation revolution with its $TUK green token pre-sale. It is among the most recommended options for the best penny cryptocurrencies in 2024, with an innovative cryptocurrency project committed to helping Tuk Tuk drivers in less developed countries in South Asia and Africa use less energy.

As governments in Asia and Africa embark on ambitious electric vehicle adoption goals over the next two decades, eTukTuk could be well positioned to play a crucial role in driving this transition.

Take advantage of eTukTuk’s staking mechanism, whose initiative offers participants an Annual Percentage Yield (APY) of 257%. Users will get 4.75 $TUK for each BSC block in $TUK token incentives.

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Visit and buy eTukTuk here.

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