$XMR (Monero) – Technical Analysis

Market Structure:

$XMR is trading at 593 after a strong bullish expansion. Price remains in a clear uptrend, but is currently approaching a major resistance zone, where short-term consolidation or a pullback is likely.

Key Support Levels:

• Immediate Support: 560 – 575

• Major Support: 520 – 540

As long as XMR holds above 520, the overall bullish structure remains intact.

Key Resistance Levels:

• Immediate Resistance: 610 – 620

• Major Resistance: 680 – 700

A confirmed breakout and daily close above 620 would signal continuation of the bullish trend.

Indicators:

• RSI: Elevated → market slightly overextended, healthy cooldown possible

• Volume: Strong on the impulse move, currently stabilizing

• Trend: Higher timeframe trend remains bullish

Scenarios:

Bullish Scenario:

• Hold above 560

• Break and close above 620

→ Targets: 680 → 700

Pullback / Correction Scenario:

• Rejection near 610 – 620

• Retracement toward 575, extended to 540

→ Considered healthy within the uptrend

Conclusion:

XMR remains structurally bullish. Short-term volatility is expected near resistance, but pullbacks are opportunities as long as key supports hold.

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