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Monero gear for August upgrade to improve security and speed
Tokens are on the rise prior to upgrade
Investors should consider token retracement as a purchase opportunity.
Monero XMR / USD is scheduled for network upgrade on August 13th. The upgrade improves the security of your privacy-focused network. The upgrade will occur after a delay and the user will need to update the software. New features such as “view tags” have been introduced to reduce wallet sync time by up to 40%.
Expected Monero upgrades have recently been positive with XMR. At the time of the press, the token was trading at $ 163. Prices are compared to lows of less than $ 100 in mid-June. It is not possible to fully ascertain whether the profit is due to a direct upgrade. This reflects the fact that cryptocurrencies have been bullish these days. Still, the importance of upgrading to the price of Monero tokens cannot be ignored.
Cryptocurrencies guarantee investor attention. With key level breakouts, Monero soars higher.
Source TradingView
Technically, Monero tokens are very bullish. Token has retested its $ 143 support after a recent breakout. Moving averages and MACD indicators are bullish on pre-upgrade tokens.
The next established resistance level after Monero is $ 204. This represents a 24% increase from the current level. Tokens can face some resistance at $ 181 but can push it to the established $ 204 level. Investors should buy now or see potential retracements as an opportunity to enter.
As upgrades approach and cryptocurrency sentiment grows, Monero will continue to push even higher. Technical indicators also support price increases at price levels up to $ 204.
