Monero under pressure — watch for consolidation or a decisive bounce

I see Monero (XMR) trading around $239 with a clear short-term downtrend: roughly -7.5% over 24 hours and -9.6% over the week. The intraday range shows resistance near $258 and immediate support around $239.

Market cap and liquidity are healthy for a privacy coin (rank ~41, $4.4B cap, ~$60M volume), but regulatory and privacy-sector risks keep this asset volatile. Volume is sufficient to move price materially on sentiment shifts.

I’m cautious here: I’m watching for consolidation above $240 or a decisive bounce above ~$260 before considering new exposure. If selling pressure intensifies and price breaks well below $230 on high volume, I’d reassess risk and avoid entering until structure stabilizes.