Monero at a crossroads; will $200 or $140 arrive first for XMR?

📆 11/3/2022 3:33 AM
📰 CryptoAmb

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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Monero has traded within a range since mid-September XMR is poised for a breakout, but a pullback could also materialize Monero has traded within a range between $152 and $136 since September. Technical indicators […]

highlighted the bearish signals that Monero flashed in recent weeks. For instance, the transaction count decreased in September but saw a recovery in October.The price action showed XMR approached the highs of a near two-month range. This region of resistance was one that XMR bulls have struggled to crack since late September.

Together, these findings showed that the market began to show some bullish intent in the past few days. However, the trading volume has been average in recent weeks. If the price climbed past $156 without a surge in volume, it could be an early indication of a failed breakout.Santiment data showed funding rate was positive in recent days for XMR. At press time, it entered negative territory.

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