Monero Showing Short-Term Weakness — Monitor for Support or Deeper Pullback
I see Monero (XMR) trading around $246, down ~0.6% intraday, ~3.4% over 24h and ~5.7% over the week, with a market cap near $4.5B (rank ~42) and daily volume about $58M.
Price action looks weak in the short term and is consolidating near recent lows; there’s no clear breakout signal yet and privacy-coin regulatory risk could amplify volatility.
I’m watching for firm support and a volume-backed reversal before taking new long exposure; a deeper, confirmed dip would be the better entry for risk-managed buying.
Analysis
Recommendation
Watch price and volume closely; avoid new size on the first bounce. Consider buying only after a clear support hold or on a deeper, confirmed weakness with defined stops.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.