Monero – Why XMR buyers should wait for this potential opportunity
Monero (XMR) experienced a 7% rally during the Christmas period, rising from $432 to over $460, partly due to a slight decline in Bitcoin dominance. However, the bounce was accompanied by low liquidity and trading volume, making it vulnerable to a reversal.
A potential buying opportunity may arise if XMR retests the $400–$420 support zone, which aligns with the 50-day Moving Average—a level that has historically acted as a rebound point. The MACD indicator is nearing a Death Cross, which could push the price toward this support area. A bounce from this level could target $470, representing a potential 15% gain.
While the futures market shows no signs of overheating, broader market sentiment remains negative. A shift to positive sentiment could support a stronger recovery. A break below the 50-day MA would invalidate this outlook.
ambcrypto12/29 06:01