Monero (XMR) Higher 13 Days In A Row: What’s Next?

An altcoin with a protracted and storied historical past, Monero is presently operating to the upside in a manner it by no means has earlier than. After closing larger for twelve consecutive days – a brand new document for the privacy-focused altcoin – Monero appears poised to as soon as once more make historical past with a thirteenth straight larger shut. What’s occurred after different Monero successful streaks previously? Let’s take a more in-depth have a look at the value historical past to search out out.

Monero Win Streak Making Historical past

Monero’s present successful streak of twelve consecutively larger closes breaks the earlier document set in 2021 of ten straight larger closes. Whereas the value advance is clearly spectacular, its unprecedented nature means we’ll have to have a look at earlier and shorter win streaks to get an understanding of what could be forward for Monero sooner or later. In different phrases, we’ll use the prior shorter historic win streaks to generate sufficient occurrences to make a extra statistically significant conclusion.

Monero 2023 Successful Streak | XMRUSD on TradingView.com

Monero 2021 Successful Streak | XMRUSD on TradingView.com

As a result of the variety of occurrences varies based mostly on holding time, we’ll begin by itemizing the variety of occasions that six straight larger closes has occurred subsequent to our a number of hypothetical maintain occasions of seven days by 12 months. Holding time is outlined because the period of time one held the asset earlier than exiting. For instance, if one hypothetically bought Monero following the set off occasion (i.e., 6 straight larger closes) and offered it 30 days later, this might be a holding time of 30 days.

Monero Occurrences of Six Consecutive Increased Closes by Holding Time (Might 2014 – Current)

12 occurrences utilizing a 7-day maintain time
12 occurrences utilizing a 15-day maintain time
12 occurrences utilizing a 30-day maintain time
11 occurrences utilizing a 60-day maintain time
11 occurrences utilizing a 90-day maintain time
7 occurrences utilizing a 180-day maintain time
5 occurrences utilizing a 356-day maintain time

Whereas the variety of occurrences stays restricted even with the shorter win streak, previous Monero successful streaks of six consecutively larger closes offers sufficient knowledge to look at so let’s dive into the evaluation.

Previous Monero Win Streaks Recommend Extra Power Forward

The hypothetical common commerce outcomes for Monero (XMR) present a constant constructive edge throughout all holding occasions from 7 days by one 12 months. Please observe that though the typical historic commerce outcomes are constructive for every maintain time we study, losses have additionally occurred for every maintain time.

Going out to a roughly three-month maintain time, the previous win streaks have delivered far larger positive aspects on common, with a mean commerce of +65.1% with a 90-day maintain, +121.7% with a 180-day maintain, to a powerful +373.8% with a 365-day maintain.

Whereas we’ve definitely by no means seen a streak of consecutively larger closes to match the present twelve and almost 13, Monero’s lengthy worth historical past means that extra energy might be forward, particularly going out to a few months and past.