Monero (XMR) Higher for 13 Consecutive Days: What’s Next?

An altcoin with a long and storied history, Monero is currently trending upwards like never before. After closing higher for twelve consecutive days – a new record for a privacy-focused altcoin – Monero is set to make history once again with its thirteenth consecutive high. What has happened after Monero’s other wins in the past? Let’s take a closer look at price history to find out.

Monero Win Streak Making History

Monero’s current winning streak of twelve consecutive high closes has broken the previous record of ten consecutive high closes in 2021. While the surge in price is clearly impressive, its unprecedented nature means we need to look at earlier and shorter winning streaks to get a sense of what may lie ahead for Monero in the future. In other words, we will use previous small historical victories to generate enough events to draw more statistically meaningful conclusions.

Monero 2023 Winning Streak | XMRUSD on Tradingview.com

Monero 2021 Winning Streak | XMRUSD on Tradingview.com

Because the number of events varies based on holding time, we’ll start by listing the number of six straight higher closes next to our multiple hypothetical hold times of 7 days to 365 days. Holding time is defined as the amount of time someone held the asset before exiting. For example, if someone hypothetically bought Monero after the trigger event (i.e., 6 straight higher closes) and sold it 30 days later, that would be a 30-day holding time.

Monero events of six consecutive higher closes by holding time (May 2014 – present)

• 12 events using the 7-day hold time
• 12 events using the 15-day hold time
• 12 events using the 30-day hold time
• 11 events using the 60-day hold time
• 11 events using the 90-day hold time
• 7 events using the 180-day hold time
• 5 events using the 356-day hold time

Although the number of occurrences remains limited even with short winning streaks, the last six consecutive high-closing Monero winning streaks provide enough data to examine so let’s dive into the analysis.

Past Monero winning streak indicates more strength ahead

The hypothetical average trading result for Monero (XMR) shows consistent positive gains across all holding times ranging from 7 days to one year. Please note that even though the average historical trading results for each of the hold times we examined are positive, there have also been losses for each of the hold times.

Given a hold time of roughly three months, a series of past wins has delivered far greater returns on average, with an average trade of +65.1% with a 90-day hold, +121.7% with a 180-day hold, a As far as. Impressive +373.8% with 365 day hold.

While we certainly haven’t seen a series of consecutive higher closes equal to the current twelve and nearly thirteen, Monero’s longer price history suggests there could be more strength ahead, especially in the three months and beyond.