Monero fails to build on Bitcoin’s momentum; one-year range holds
XRM/USD keeps trading in a range Bearish momentum persists A stronger dollar pressures most cryptocurrencies Bitcoin rallied at the start of this week, triggering much-needed enthusiasm among crypto investors. However, the so-called “crypto winter” is still visible in other crypto markets, such as XMR/USD. Monero failed to capitalize on Bitcoin’s strength. Some other times, whenever Bitcoin rallied, other cryptocurrencies followed. Only this time is different. Therefore, one may argue that other cryptocurrencies lag and will jump, too, following Bitcoin’s lead. But another take is that Bitcoin gains will disappear, and a stronger US dollar will emerge. One thing is for sure, though – Monero’s technical picture is not encouraging. Monero chart by TradingView The one-year-long range keeps Monero at bay Monero’s underperformance this year might be viewed in two ways – one bullish and ...