Monero Makes a 20% Price Jump after Atomic Swap Implementation

Monero coin has made a price increase of about 20% soon after implementing the atomic Swap. The Atomic Swap will help ease the cross-chain interactions between Monero and Bitcoin chains. The recent bull could lead Monero to the predicted value of $460 by the end year. 

Monero Price Analysis

Monero, the most significant privacy coin, has been posting high price surges, especially in the past seven days, starting Friday the 20th. On Friday, Monero was merely trading at $261, but today 24th, in just the past few hours, the coin was able to hit $333. 

Currently, Monero is trading at between $311 and $333, a slight drop from the values late yesterday. However, as of the time of writing, CMC reports a 1.67% drop in asset prices. Monero has broken out past several resistance points, with the most recent ones being $300 and $324. The most immediate pivotal resistance point for Monero is at $344, and another one is at $369. 

If the Monero coin manages to break out past this upcoming resistance, the asset will be open to making an even further price surge to the second $369 level. Going past the second resistance could open the coin to further price surges towards the $400 mark. 

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It’s also possible that the Monero coin could begin a short reversal or bearish statement. However, that could most likely happen once the coin hits the resistance levels. Investors may lose confidence, and the market situation could also charge from the current buy to sell. If anything of that sort happens, Monero could quickly reverse back to the support level, which is $282. However, the most immediate price changes seem to be headed towards the next marks. 

The Atomic Swap Rollout

In the past 30 days, since July 25th, Monero has been on a slow recovery, with a 50% price increase. However, the coin has grown vastly because of the recent Atomic Swap rollout in the past few days. The Atomic Swaps in Monero are systems introduced to enable the interaction between the Bitcoin blockchain and the Monero chain without leveraging other third-party platforms. 

Generally, in many cases and for many reasons, the interactions between Monero and bitcoin would be near impossible. The two blockchains are different, one being transparent and another fostering privacy.

 However, implementing the rollout allows traders in the two networks to trade without using third-party software. Therefore, because of the new implementation, trades between the two chains are utterly simple.

Predicted Monero Price

Btc

Bitcoin

$28.095
price

2.29701%
price change

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Different analysts have different predictions on the value of Monero by the end of 2021. However, most of the analysts’ expectations put the prices between $400 and $500. The recent bullish statement by Monero could be the start to the achieving of the predicted values.