The year 2018 is coming to a close with the top 10 cryptocurrencies closing in the red. The price of Monero paired against the USD plummets after a bearish close below a critical support level. See the monthly chart under the risk section of this article for in-depth analysis as well as an overview of a few technical and fundamental events.
A Focus on Previous and Upcoming Events in the Monero Community
The above daily chart highlights the critical technical levels of the XMRUSD pair. The announcement icons serve as markers for the release dates of the fundamental events for Monero (XMR).
20 November 2018 Provenance Seoul Summit
The provenance Summit taking place at the floating IslandConvention Center in Seoul-South Korea will have participants coming in from industries such as food, media, gaming, retail, enterprise, logistics, transportation, health care to mention a few. This event promises attendees an opportunity to learn from industry leaders.
A bullish inside bar candle pattern was triggered after the closing price of the event. The following day November 22, birthed a
27 November 2018 Altcointrader Listing
AltCoinTrader announced the launching of Monero (XMR) on their trading platform as part of an initiative to bring Altcoins to their customers.
The privacy coin Monero was listed, following a final test by the technical team at AltcoinTrader to assure all functional requirements are met, as well as safety and security. Traders are allowed to make deposits and withdrawals in XMR after the launch.
This event quickly increased the bullish sentiments of the pair, which eventually triggered a breakout of bullish accumulation on the 28th of November.
Potential Triggers for December
14 December 2018 USA Blockchain Conference
Over 2000 attendees and 50 exhibitors will be converging at Phoenix Arizona for the first USA Blockchain Conference taking place in the state. This conference is scheduled between 14th and 15th of December.
This event takes place after a breakdown of bullish inside bar candle formation on December 10.
Potential Risks for December and into January 2019
Making reference to the above monthly chart, it’s obvious
that there are no signs of a price recovery of the Monero (XMR). Currently
trading at about $39.00, the privacy coin stands a risk of moving towards the
$20, or even $10 zone. Only time will tell.
We have no plans of entering long buying positions at this rate as wishes and hopes are no economic indicators.
Technological Adoption on the Monero Network
Updates and Milestones Accomplished on the Monero Network
MONEROMOOO CODING, OCTOBER – DECEMBER
Based on a post by a developer and code contributor on the Monero
His report for the current period can be found at – https://forum.getmonero.org/6/ideas/90280/more-mooo-monero-coding-july-september.
As a way to get code development funded, the Monero community has raised a sum of XMR235.93.
He’s expected to work on things like pruning, RPC payment, blackball improvements, and whatever protocol improvements Sarang/Surae come up with.
The following are the first milestones achieved:
- Faster cold signing export/import
- Some more bulletproofs speedups
- Misc build fixes
- Nondestructive rescan_bc
- Big-endian fixes
- Fix change_wallet_password RPC
- Misc fixes from Coverity reports
- Secure input echo fixes
- Signed_transfer now optionally returns tx keys
- New unit test for the notifier
- Fix missing records in get_transfer RPC
- DNS test fix
- Fixes for the gamma fake output selection
- Fix running two daemons on the same database
- Misc verification and other speedups