- Monero already rose 30%in May, driven by the increasing demand for data protection in the middle of state control.
- The course of the Monero XMR token achieved $ 362 because the technical data signal a positive momentum despite the overbought RSI and stock exchange lists.
Monero (XMR) on Wednesday, despite stagnating markets, climbed to $ 362. The increase shows the growing dynamic behind privacycoins, while monitoring and regulatory pressure rise. Investors turn to privacycoins such as Monero who offer anonymity as the central banks strive for more control. The Monero community increasingly relies on peer-to-peer alternatives, as the established stock exchanges withdraw to maintain decentralization.
Privacycoins gain dynamics
According to a report by Bitfinex on May 16, the increasing regulatory pressure drives customers to cryptocurrencies that protect their identity and transaction details. Monero with its advanced data protection functions such as ring signatures, stealth addresses and confidential transactions is the first choice. These functions hide the decisive data – transmitter, amount and receiver – and make Monero the preferred platform for customers who value data protection.
Bitfinex announced that the growing discomfort about framework conditions such as digital central bank currencies, know-your-customer principle And anti-money laundering regulations increase interest in privacy coins. In addition to XMR, coins such as ZCash (ZEC) and Decred (DCR) also gain traction. Bitfinex noted that the increase in Monero, as in the early days of Bitcointhe community is promoted, with a calm but fixed re -rise of the price.
As CNF reported, Monero was removed by large stock exchanges such as octopuses due to compliance problems. However, the system is still strong. In order to remain accessible, the customers turn to decentralized stock exchanges and peer-to-peer platforms. This is in line with their view of financial freedom and the Cypherpunk ideals on which their development is based.
Technical indicators show persistent positive momentum
Monero’s course increased by almost 30% in May alone, with strong technical indicators support the upward trend. When writing this article, the cryptocurrency is traded at $ 362.38, with the open interest of the derivatives in the last 24 hours by over 4.5% to $ 42 million.
The RSI on the three-day chart is 86 and indicates overbought conditions. However, the upward trend remains intact and is supported by a confirmed MACD purchase signal of April 22. Analysts lead the upward-facing 50-day, 100-day and 200-day EMAS, which are currently $ 237, 210 and 190, as a further evidence of a strong upward structure.
The next significant resistance is $ 400, a level that last existed in May 2021. However, analysts warn of a possible short -term exhaustion. If there is a sweater, critical levels on the downward side are the $ 338 mark, which was last seen as a resistance in August 2021, and the 288 dollar demand zone from April 2022.
The continued increase of Monero underlines the need for data protection in the digital financial world, even if the market consolidates. With increasing sales and strong technical support, the coin seems to remain in focus despite the regulatory headwind.
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