The Community of Monero (XMR) is Preparing for the Upgrade, but the Price is Under Pressure

Last week, most of the cryptocurrencies were commercialized on the beach. They drove mainly to the lower part of the beach, which was dominated by bears. Monore also suffered this spell. The cryptocurrency could not remain at the top of the range, even with the expected software update. While the price decreased mostly last week, this week looks different. If Monero manages to overcome considerable resistance, the road to recovery will be smooth.

Monero was inactive for most of last week, but the community is confident that the price action will change this week. This is because the developer community plans to release updates that implement Bulletproofs and allow the Monero platform to resist mines. The bulletproof protocol is similar to SegWit. This reduces the size of the transaction and the cost associated with each transaction. The size of the ring is also reduced to 11 labels, and the platform benefits from greater privacy, which is expected to protect users from malicious attacks.

The monero seven-day price analysis

In the last seven days, the price of Monero has fallen due to the decrease in pressure and the negative sentiment of the market. The erosion of prices was surprising, since news of the update was expected to cause a rise. Yesterday the price had dropped by 2%. The traders were told to take only short positions in each decline. You can make stops at $ 120 with $ 100 as your first goal. This corresponds to the price analysis of Aayush Jindal on NewsBtc. This week, Monero could overcome the $ 120 resistance, paving the way for other gains in excess of $ 150.