The market being highly volatile, the liquidity rate of XMR is getting higher day by day due to which shifts in its prices within a span of 1-day only is getting noticeably higher.
The price decline of XMR is just like any other altcoin in the crypto sphere as of now. This is because success or failure of these coins or projects are very much relied on the crypto market condition and BTC price momentum and trend. BTC’s turbulent and erratic nature is slashing down the value of XMR at an active rate.
From the given 1-day chart, it is clearly seen that XMR’s liquidity is really high. It is trying to move up but intermittently it is slipping down in the bearish zone. Since yesterday noon, it has been mostly trading with a bearish outlook, with a slight raise in between. Its momentum is also not steady towards the bullish zone and keeps fluctuating.
For instance, on 21st July, XMR’s value was 85.66 USD but today only, it fell as low as 82.88 USD. So, one can comprehend about how fluctuating XMR is, at the current stage. Within a span of 1-day only, XMR’s value is deterred by 2.94%. Considering the above facts, we think that in the upcoming days, XMR can have a major support level at $78.65.