Monero bulls keeps an eye on high levels despite Huobi delisting concerns
Monero has maintained an uptrend since June
The network underwent a successful upgrade on August 13
Huobi Global announced it was delisting XMR to align with the financial regulations
Monero XMR/USD, a privacy-focused cryptocurrency, is rarely mentioned in crypto quarters. However, it has remained steadfast since June, amid the mixed crypto sentiment. The cryptocurrency has yet to relinquish key levels, making it among the strongest tokens.
One of the key factors that have supported Monero is the upgrade that occurred on August 13. The upgrade improves the network’s privacy features with Bulletproofs+ safeguards. It also introduces greater security and faster transactions on the network.
While Monero has been regarded highly in the crypto sphere, its privacy features have been contented. Some regulators have highlighted the risks of non-traceability of privacy coins. On September 12, Huobi Global announced delisting Monero, among other tokens. The delisting is expected to take effect on September 19, 2022. Huobi cited the need to comply with the financial regulations in the delisting.
XMR on an uptrend as price eyes $181 next
Source – TradingView
A technical outlook shows Monero token trading near the mid-August highs. The price is entering an important phase, which is surpassing the August high and hitting $181. However, the main resistance for XMR is $204.
Technical indicators are bullish on XMR. The 20-day and 50-day moving averages support the token. A MACD crossover above 0 also affirms a bullish momentum. XMR needs to overcome the $170 level to hit $181.
Summary
Monero token remains bullish amid Huobi delisting concerns. The price has surged above moving averages, but the August high of $170 is an obstacle. XMR will ride to $181 next if the current momentum remains and surpasses the August high. The token could potentially rise to $204.
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Buy XMR with Binance today
KuCoin
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.
Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.
Users can benefit from a beginner-friendly interface and relatively low fees.
Buy XMR with KuCoin today
