Facebook’s announcement of the Libra stablecoin raised privacy concerns. Whether it’s related or not, some of the top privacy coins spiked after the announcement, including Monero, Zcash, Zcoin, and Grin.
Monero is sitting at a pivotal point based on the 3-day chart. It is trading above the 7-three-day moving average, which is a positive sign, but it has not been able to break above the resistance given by the 100-three-day moving average.
Therefore, it will be wise for an investor to wait for a break above the 100-three-day MA, which could take it up to the 200-three-day MA—or a move below the 7-three-day MA that will take it down to test the 30-three-day MA.
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