🚀 $XMR Goes Parabolic! RSI Hits 87... Is a Crash Incoming? ⚠️
Market Update:
$XMR is absolutely on fire, printing massive green candles and hitting a high of $688. However, trees don't grow to the sky forever. The 4H RSI has hit 87.62, an "Extreme Overbought" level that statistically signals a pullback is imminent.
📉 Technical Outlook:
The Danger Zone: Price is trading significantly above the EMA 7 (632) and miles away from the EMA 25 (556). This gap usually acts like a rubber band—eventually, it snaps back.
Momentum: The trend is undeniably bullish, but the upper wicks on the recent candles show that sellers are finally stepping in at $680+.
Volume: Massive buying volume, but we are waiting to see if it sustains at these highs.
🎯 TRADE SETUP (The "Cool Down" Play)
Strategy: DO NOT FOMO Long here. The risk of a "blow-off top" correction is high. We wait for the price to drop to support before re-entering.
🚫 Avoid: Buying at CMP ($656).
🛒 Entry Zone: $625 - $635 (First bounce at EMA 7)
📉 Deep Value Entry: $560 (If it crashes to EMA 25)
🎯 Take Profit:
$665 (Bounce scalp)
$690 (Retest of Highs)
$720 (Blue sky breakout)
🛑 Stop Loss: $610 (Losing the fast EMA signals a deeper correction).
🧠 Trader's Note:
RSI at 87 is rare. In these conditions, price often consolidates sideways or dumps sharply to reset indicators. Patience is your best friend right now. Let the dust settle!
Disclaimer: This is technical analysis, not financial advice. DYOR.
#XMR
