MonaCoin (MONA)

MonaCoin (MONA)
MonaCoin (MONA) is an open-source, decentralized cryptocurrency and peer-to-peer (P2P) payment network. Launched in January 2014 without a pre-mine process, it is built on the Lyra2RE (v2) algorithm and is a hard fork of Litecoin.

MonaCoin emerged as the 2nd top performer in the previous week adding nearly 23% in the previous week. At the time of writing, MonaCoin was exchanging hands close to $0.27 erasing nearly 7% of the previous gains in intraday.

Despite losing intraday, MonaCoin still boasts a positive development of nearly 14% a week. On the lower side, if the price bounces back from the $0.273 level, it may continue to add more gains.

On the contrary, if MonaCoin price breaks below the recent support of $0.273, it may snap off the recent gains. The short term traders and investors need to have a closer look near the crucial zone.