Derived from Cryptofrontnews, Monero (XMR) is currently testing the $422 resistance level, historically a key monthly barrier that has triggered major declines in the past. Analysts suggest that repeated rejections at this level may eventually transform it into support. The recent rally, driven by profit rotations from Zcash and $12 million in short liquidations, has pushed Monero over 20% higher this week. A multi-year 'cup and handle' breakout and the 2025 network upgrade are also contributing to renewed investor interest. If Monero breaks above $422, it could set the stage for further gains toward previous all-time highs.
Monero Eyes Long-Term Support at $422 After Years of Rejections
CryptofrontnewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.