Monero XMR Price Jumps To $63.80, Above Its Daily SMA200

The Monero XMR price jumps and is the biggest winner on the day and among the best performing cryptocurrencies out of the top 20 list this Thursday. The coin managed to gain 6% since the beginning of the day and has hit the intraday high at $61.61. Currently, this is the 14th largest digital asset in the cryptonews with a total capitalization of $1 billion and an average trading volume of $117 million.

Some of the fundamental reasons of the strong bullish rally are not readily available. Therefore, the price of XMR may be influenced by a combination of positive sentiments as well as technical factors. What is important right now is that the Monero XMR price jumps to $63.80 and will be looking to grow even more in the future.

XMR/USD moved above the daily SMA200 located on the approach to $60, while the development further increased the bullish momentum and pushed the price towards the intraday high.

The next resistance right now is created by the daily SMA100 at $64. Once this is out of the way, the Monero XMR price will likely gain traction and go for the $65 levels. As we can see in the Monero news today, the coin managed to add 6% to its price today, being one of the best performing tokens.

Speaking of best performing coins, Bitcoin (BTC) is again among these gainers with 5.44% on the day so far and $9,801 as its current price. We already predicted that a rally is nearing for Bitcoin (BTC) but as we said, investors need to remain cautious right now.

Anyways, the Monero XMR price and Bitcoin BTC price are leading the day with gains, both looking for new territories. While XMR wants to blossom through $70, BTC is aiming for that five-digit mark (at $10,000) which is the direction in which it will move in the coming days.

However, a retracement before a new rally is also possible. The Bitcoin halving event which is nearing in a week is one to watch out for – as one of the most major events that can push the BTC price upwards to new all time highs.

Meanwhile, the total cryptocurrency market cap today is at $266 billion, while BTC’s dominance lies at 67.6%.