Monero Price Retreats to $352 After Rally

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 4 hours ago

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Price Fluctuation Analysis: Monero surged 16.6% on June 11, briefly reaching $426, but quickly retreated to $353, indicating the fragility of the market's short-term rebound, which could impact investor confidence.
Impact of Large Orders: The price movement was linked to a $120.2 million USDT deposit to a Tron address, with analysts noting that the flow of hidden funds could lead to sharp market fluctuations, increasing trading uncertainty.
Technical Outlook: Although Monero's daily chart reflects a broader bullish trend from $230.20 to $800, the current retracement has pushed below the 78.6% Fibonacci level at $352, suggesting that sellers have the upper hand in the short term.
Support Level Watch: Analysts recommend monitoring the local support at $292, with a potential further decline to $252 if bearish pressure persists, while a move beyond $437 would be necessary to shift the current downtrend.

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Technical Analysis for XMR

Technical Sentiment Analysis for Monero (XMR). As of , Monero (XMR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 0 indicators are flashing buy, while 5 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XMR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XMR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Monero (XMR) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	75.069	183.579	257.979	366.489	440.889	549.399	623.799
Fibonacci	183.579	253.451	296.618	366.489	436.361	479.528	549.399

About XMR

Monero was launched in 2014, and its goal is simple: to allow transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography.The team behind Monero say privacy and security are their biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users — irrespective of how technologically competent they are.Overall, XMR aims to allow payments to be made quickly and inexpensively without fear of censorship.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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