Monero (XMR) had a good upside bounce this morning but the bearish pressure is not yet over. While Other cryptocurrencies were struggling, Monero was doing relatively well. The price of Monero was in green and there is still room for upside movement. However, the upside move may not continue for long before the bears enter the market again. Whether the bulls will be able to succeed in the coming face-off is not yet clear. However, XMR is currently in less than three percent range even if the price is up by one percent trading at $141.33.
Monero (XMR) Price Analysis For July 28
The daily charts on FXStreet indicate that the bulls found momentum to continue the rally after a slight correction attempt by the bears. While the bulls were able to push forward for a while, the price eventually fell back as the rally could not hold beyond the $155 – 160 levels. The resistance facing Monero (XMR) is in form if a descending trendline that is drawn from the all time high of $477. There is an immediate resistance at $147 and supports at $135.
Monero Privacy Settings To Be Implemented On Ethereum?
During the Privacy Enhancing Technologies Symposium (PETS) this week, some researchers suggested a technique that can mix solutions called Mobius. The solution is to obscure payment information during Ether transactions. The details of the technique is in the white paper presented by the authors. Mobius will implement Monero-style tooling to smart contracts on the Ethereum blockchain. This will conceal the receiver and sender addresses in a way that cryptographically trustless.
Although it is not yet available for the Ethereum community members, Clearmatics, a UK-based blockchain startup is working on a open source implementation. They have the codes required to push Mobius on the Ethereum blockchain without stress. Implementing this technology on the Ethereum blockchain will offer the ecosystem many advantages.