Monero Price Slides Further To Test Major Support: Scheduled Upgrade Completed Successfully

• The upgrade scheduled for April 6, 2018, has been completed successfully.
• Monero’s anonymity has been in question after some researchers revealed a couple of flaws in Monero’s network.

Monero price recent declines were protected by the major support level at $163. The upside gains that followed after the price bounced back are capped below $175. The cryptocurrency market, on the other hand, is engulfed in selling pressure as the week’s trading comes to an end on Friday.

Consequently, the upgrade on Monero’s mining software has been completed successfully. The following programs will receive the upgrade, CLI Windows 32-bit, ARMv8, DragonflyBSD 64-bit, and FreeBSD 64-bit binaries as well as GUI Linux 32-bit binaries. The upgrade did not trigger any hard fork as previously anticipated. The miners are requested to update their software according to the instructions provided on Monero website.

The price is lagging its reaction to the upgrade noting that the upgrade was also improving the security of the privacy-focused Monero. Its anonymity has been in question after some researchers revealed a couple of flaws in Monero’s network.

Monero price is trading below the 500 SMA and 100 SMA. The 100 SMA has crossed below the 50 SMA at $177 level, besides, the gap between the moving averages is widening to signal that Monero price will consolidate lower toward the major support level $163.

XMR/USD hourly chart