Search ForexCrunch
  • Monero recovers from lows  but fails at $130.00
  • Edge wallet add Monero support

Monero (XMR) is an obvious growth leader among the most popular digital currencies. The coin has been recovering from eight-month low and gained 14% in recent 24 hours. XMR/USD came close to $130.00 handle during early Asian hours on Monday, however, a fresh wave of selling interest pushed it back towards $127.50.

Monero takes the 12th place in the rating of top cryptocurrencies with the total market value over $2B and daily trading volumes $44M, up from an average $35M registered during the previous week.  

This coin has been under pressure lately, losing over 22% in a month amid global crack down on privacy focused coins.  Thus the news that  Edge Wallet added support for Monero came in handy, providing the price with the necessary bullish trigger and fuelling the recent stellar performance.  he Edge Wallet is a multi-asset wallet that has gained popularity recently. It has an integrated asset exchange and has recently added XMR, QTUM,  and XRP to the list of supported coins.

“We have the great pleasure to inform you, in your Edge wallet, you will now find $XMR. @monero has been on our list for a while and we are happy to provide it for the community,” the official announcement reads.

Monero technical picture

XMR/USD  found a bottom at $106.42 and gained nearly 20% since that time. The first local resistance is created by 100-SMA (4-hour chart) at $127.60 and followed by psychological $130.00. On the downside, support is seen at $120.58 (50-SMA), followed by $116.00.

XMR/USD, 4-hour chart