🚀 XMR/USDT: Bullish Reversal in Progress?
Monero ($XMR) is showing some very interesting price action on the 1H timeframe. After a period of downward pressure, we are seeing signs of a trend shift and strong accumulation.
📈 Technical Breakdown:
Support Base: $XMR has established a solid support foundation around the $367 - $368 zone.
Market Structure: We are observing a Higher Low formation, which is a classic signal of bullish strength.
Volume Surge: Recent price jumps are backed by significant volume spikes, indicating that buyers are aggressively stepping in at these levels.
Current Trend: The price is currently testing the $387.58 level, looking to flip previous resistance into support.
🎯 Trading Setup:
Entry Zone: $382 - $385 (Look for stability above the MA lines).
Immediate Target: $393 - $400+.
Stop Loss: Below $375 to stay protected from sudden volatility.
💡 Market Sentiment:
With a 24h high of $393.38 and a positive daily change of +3.49%, the momentum is clearly shifting in favor of the bulls. Keep a close eye on the volume; if it continues to rise, we might see a breakout toward $415 soon!
What do you think? Is XMR ready to moon or is this a bull trap? Let me know in the comments! 👇