Monero Outperforms Bitcoin with 86% Surge This Year
Technical Analysis Summary
Monero (XMR) is outperforming Bitcoin (BTC) in 2024, with expectations for continued strength. Key points include:
- XMR-BTC ratio on Poloniex has reached its highest level since January 2024.
- A "double-bottom" breakout pattern confirms a bullish trend shift.
- The ratio recorded two troughs around 0.00165 and broke above neckline resistance.
- XMR's price has increased by 86% this year, compared to Bitcoin's 12% rise.
- The outlook remains bullish unless XMR dips below the double top support level.
