$XMR - SHORT Setup
Entry: 458.00 – 460.00 (Only on a clear rejection at the 24h high/resistance zone)
Target 1:440.00
Target 2:432.66 (24h Low)
Stop Loss:465.00 (Above the resistance zone for a clean invalidation)
My View:
XMR has rallied into a major resistance area at the 24h high of$460. The move up looks exhausted, with price struggling to break and hold above $455. The chart shows a potential double-top formation forming near this level. The volume on the rise is not particularly strong compared to the overall 24h volume, suggesting a lack of conviction from buyers. The order book shows significant sell walls stacked above the current price, capping upward momentum. The RSI on the 4H is also showing bearish divergence. I'm waiting for a clear rejection candle in the $458–$460 zone to confirm sellers are stepping in, offering a high-probability short entry to target a retracement back to the mean.
Bias: Bearish below $460. A break and close above $465 shifts the structure bullish.
