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

An altcoin with an extended and storied historical past, Monero is at present operating to the upside in a manner it by no means has earlier than. After closing larger for twelve consecutive days – a brand new report for the privacy-focused altcoin – Monero seems 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 better take a look at the value historical past to seek out out.

Monero Win Streak Making Historical past

Monero’s present successful streak of twelve consecutively larger closes breaks the earlier report set in 2021 of ten straight larger closes. Whereas the value advance is clearly spectacular, its unprecedented nature means we’ll have to take a look at earlier and shorter win streaks to get an understanding of what is likely to 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 Profitable Streak | XMRUSD on TradingView.com

Monero 2021 Profitable 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 way of one year. 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 Greater Closes by Holding Time (Could 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 supplies sufficient information to look at so let’s dive into the evaluation.

Previous Monero Win Streaks Recommend Extra Energy Forward

The hypothetical common commerce outcomes for Monero (XMR) present a constant optimistic edge throughout all holding occasions from 7 days by way of one 12 months. Please word that although the common historic commerce outcomes are optimistic 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 higher features 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 value historical past means that extra power might be forward, particularly going out to 3 months and past.