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Monero

Monero's 'Basing Pattern' Breakout Points to Price Gains AheadMonero (XMR), the leading privacy-focused cryptocurrency, has recently shown signs of renewed strength, breaking above the $200 mark and confirming a bullish shift in market trend.1 This upward movement is particularly significant as it follows a prolonged period of consolidation, during which XMR formed a classic "basing pattern."2 This article will delve into the details of this technical pattern, explore the factors contributing to Monero's current momentum, and analyze the potential for further price gains in the near future. Understanding the Basing Pattern In technical analysis, a basing pattern, also known as a consolidation pattern, represents a period of price stabilization after a downtrend or a significant price drop.3 During this phase, the price trades within a relatively narrow range, forming a base for a potential future breakout.4 This pattern typically indicates that selling pressure is weakening, and buyers are beginning to accumulate the asset.5 Key characteristics of a basing pattern include: • Consolidation Range: The price trades within a defined range, bounded by support and resistance levels.6 • Decreasing Volatility: Price swings become less pronounced as the pattern develops.7 • Increased Volume on Breakout: A breakout above the resistance level is often accompanied by a significant increase in trading volume, confirming the strength of the new uptrend.8 Monero's recent price action has exhibited these characteristics. After a period of decline, XMR's price consolidated within a range, demonstrating decreasing volatility. The recent break above $200, accompanied by increased trading volume, signals a potential breakout from this basing pattern, suggesting a shift towards bullish momentum.9 Factors Contributing to Monero's Momentum Several factors could be contributing to Monero's current positive trajectory: • Increased Demand for Privacy: In an increasingly surveilled world, the demand for privacy-preserving technologies is growing.10 Monero, with its strong focus on anonymity and untraceable transactions, is well-positioned to benefit from this trend.11 • Technological Developments: Ongoing development and improvements to the Monero protocol, such as advancements in its privacy features and scalability solutions, enhance its value proposition and attract users. • Growing Adoption: While adoption of privacy coins is still relatively niche compared to mainstream cryptocurrencies, Monero has a dedicated community and sees usage in various applications where privacy is paramount. • Broader Market Sentiment: The overall cryptocurrency market has shown signs of recovery recently.12 A positive market sentiment can have a ripple effect on various cryptocurrencies, including Monero. The Significance of the $200 Breakout The break above the $200 resistance level is a crucial technical development for Monero. This level has acted as a significant barrier in the past, and breaking above it suggests a strong shift in market sentiment. This breakout confirms the potential validity of the basing pattern and opens the door for further price appreciation. Potential for Further Price Gains With the breakout confirmed, several potential price targets can be identified using technical analysis. Common methods include: • Measuring the Height of the Basing Pattern: The height of the consolidation range can be projected upwards from the breakout point to estimate a potential price target. • Identifying Fibonacci Retracement Levels: Fibonacci retracement levels can be used to identify potential resistance levels and price targets based on previous price movements.13 • Analyzing Long-Term Trends: Examining long-term charts can provide insights into potential long-term price targets. Based on these methods, potential price targets for Monero could be significantly higher than current levels. However, it's crucial to remember that these are just potential targets, and market conditions can change rapidly. Challenges and Risks While the current outlook for Monero appears positive, it's essential to acknowledge potential challenges and risks: • Regulatory Scrutiny: Privacy coins like Monero face increased regulatory scrutiny due to their potential use in illicit activities.14 Increased regulation could negatively impact their price and adoption. • Competition: Other privacy-focused cryptocurrencies and privacy-enhancing technologies are emerging, posing competition to Monero. • Market Volatility: The cryptocurrency market is inherently volatile, and even with positive technical indicators, price corrections and unexpected events can occur.15 Conclusion Monero's recent breakout above $200, following a well-defined basing pattern, suggests a potential shift towards bullish momentum.16 Factors such as increased demand for privacy, technological developments, and positive market sentiment contribute to this positive outlook. While potential price targets can be identified using technical analysis, it's essential to acknowledge the inherent risks and challenges associated with the cryptocurrency market. As always, thorough research and caution are advised when making investment decisions. The confirmation of the basing pattern and the break of the $200 resistance level does provide a strong signal for those interested in the privacy coin space.
KRAKEN:XMRUSDLong
by bryandowningqln
Monero - The Best Privacy Coin Im going to be breaking-down what I feel are the best long-term holds in each sector/category of crypto. This is the privacy sector. I will tell you the pros and cons of each project. Monero When looking at the chart for Monero, we can see that it looks very bullish. It has successfully broken out of & retested a long channel that it has been between for years. We can see that the last time Monero broke out of a multi-year channel it went on to rise 500%. Monero price action has been extremely steady compared to other cryptocurrencies over the years. In my opinion this chart looks very similar to XRP prior to it going from 0.40 to 2.50. Pros: Obviously Monero is the king of privacy coins and is the most used P2P crypto even more than Bitcoin. Monero is what Bitcoin was meant to be, and as more concerns about privacy arise, Monero will garner even more market share. Cons: Tough to buy in some countries. Monero has been heavily supressed over the years, and is often delisted from Central Exchanges. Making it difficult to purchase. All in all, this is not financial advice but instead just my opinion. Thanks for viewing my post! And make sure to check out my other posts for the top crypto in other sectors!
KRAKEN:XMRUSDLong
by Nutty_Trader
2
#Monero $XMRUSD One Year AnalysisCRYPTO:XMRUSD Keylevels / Range $120: Lowest trend price. If the price closes below this level, it would signal a bearish trend. $163: Lowest range price. A close below this level would unlock a new lower zone extending down to $120. $203: Current price. $233: Upper limit of the current channel/wedge. $370: Long-term target. Analysis: Monero has been trading within a range of $183 to $206 for the past two weeks. The price has closed above $197 for the first time since May 2022. This move potentially unlocks a new range, reaching at least $233, where the upper limit of the current channel/wedge and a monthly/weekly supply zone are located. A weekly close above $237 would strongly indicate the unlocking of a new charted zone extending from $237 to $370. Coin Bio: Monero (XMR), is a privacy-focused cryptocurrency launched in April 2014. It was originally forked from the Bytecoin blockchain. Unlike many other cryptocurrencies, Monero's primary focus is on ensuring the anonymity and untraceability of transactions. Key features include: Ring Signatures: Obfuscate the sender's identity. Ring Confidential Transactions (RingCT): Hide the transaction amount. Stealth Addresses: Create unique, one-time addresses for each transaction, obscuring the receiver's identity. These features make Monero attractive to individuals seeking financial privacy and are a core differentiator in the cryptocurrency space. It's developed by an anonymous community of developers and has gained significant traction for its commitment to private and fungible transactions. While its focus on privacy can be controversial, it remains a prominent cryptocurrency with a dedicated user base. XRMUSD specifically refers to the trading pair of Monero against the US Dollar. #CRYPTO #MONERO #XMRUSD #XMR #CRYPTOCURRENCY #AHMEDMESBAH
CRYPTO:XMRUSD
by AhmedMesbah
Monero (XMR)Monero is one of the first crypto project which focused on privacy and anonymously. After a big ascent, XMR entered into a long oscillation period in a wide side way channel. Recently, due to the Ripple (XRP) court ruling that caused pump in crypto market, XMR broke the consolidation triangle pattern upward. Could this be the start of an impulse upward wave to the channel's upper line, or even beyond? Let's see what happens. Note that this the weekly chart.
CRYPTO:XMRUSDLong
by SaeedSalehinia
XMR LOOKS SUPER BULLISH (1W)Before anything else, pay attention to the timeframe of the analysis; it’s weekly. It seems that wave C of the weekly triangle has ended, and the price has entered wave D. Wave D could progress up to the ATH or even slightly exceed it. For wave E, we will have a rejection, and then the main upward move will form. On the chart, we have marked a green line as our KEY LEVEL. As long as the price stays above this line, XMR is super bullish. A weekly candle closing below the invalidation level will invalidate the analysis. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
CRYPTO:XMRUSD
by behdark
Monero Outperforms Bitcoin. What does it mean?I have been pointing out on my social media and Livestreams that Monero has been outperforming Bitcoin since April 2024. This inversion in the KRAKEN:XMRBTC cross pair is interesting in itself considering most cryptocurrencies remain in high correlation to Bitcoin INDEX:BTCUSD but there is more that can be inferred by this relationship. First, we will look at the key data point in the past that could be happening and then I will offer a possible explanation for this phenomenon. Bitcoin Maxis will point out that over the last 2 years Bitcoin overall has outperformed Monero by 25%. That's not the point. It is not that Monero is a "better" long term investment. Bitcoin has far more bullish history. The point is that the last time Monero outperformed Bitcoin was through the whole 2022 bear cycle. The outperformance did not end until January of 2023 when the Bitcoin bull trend started. If history is a guide then Monero outperformance, especially sustained over many months, is an indicator itself that a bearish cycle of Bitcoin is confirmed. It also could be argued that Monero could become the "flight to safety" during bear cycles. We only have one sure data point but are currently witnessing a second. How can Monero do this? The best possible explanation is the Dark Web. On-chain transaction on Bitcoin have become prohibitively expensive. The alternative of using Lightning network, by having to setup and join nodes, negates the privacy that the Dark Web runs on. Monero has over the last few years become more dominant to the point that now it is the only cryptocurrency used on many Dark Web sites. Monero is the clear winner in the privacy use case for cryptocurrency.
by norok
Monero back in "Fair Value"Of all cryptocurrencies I see Monero KRAKEN:XMRUSD differently as a good "store of value" which is private. That makes me a little looser with my trading guidelines for other assets. Monero has also proven difficult to trade in recent years... it has had some volatile swings but overall has broadly kept its value. The recent cryptocurrency downtrend, led by Bitcoin, has finally caused the otherwise resilient Monero to break back into the 140 range. 140 on Monero for the last several years I have seen as "fair value" to accumulate. This is also the 50% Retracement of the recent trend and the Volume Profile Point of Control.
KRAKEN:XMRUSDLong
by norok
1
XMRUSDT: Bullish Butterfly Update: Bullish Breakout Seems LikelyXMR, despite the spot pairing having been delisted on Binance a few months ago, has survived and held above the PCZ that was of very much importance to the historic price action. During the delisting XMR had sold off back down to the PCZ in record volumes on the exchange, however, in spite of record selling the support still held, since then, the price has stagnated at this level potentially hinting towards accumulation. If the Support had Broken XMR likely would have crashed all the way back down to 20 but for the time being the coin has proven resilient at this price level and it would seem that we will soon be marking up to significantly higher prices as the diagonal Bearish Trend seems to be coming to a close.
Long
by RizeSenpai
Monero (XMR) or Moonero?Greetings citizens of the world Monero price today is $145 with a 24 hour trading volume of 100 million dollar. XMR price is up 0.7% in the last 24 hours and 7% since last week Monero is the top privacy centric cryptocurrency based on the CryptoNote protocol, a secure, private and untraceable currency system and after what happened to Tornado cash more "people" use XMR. 100-110$ is the most important support level for monero so if you were long from that level take some profit because at 160 we can have a little correction but if we break 160$ then 165,170 and 179 are next targets. If you want to buy monero for long term hold, 100-120$ are good dip zone for loading some coins. as you see XMR repeat its pattern in downtrend so there is no reason for FOMO or any crazy leverages
X
by moonypto
2
Monero (XMR): Clear Path for Strong Surges AheadMonero (XMR): CRYPTO:XMRUSD Monero (XMR) , like many other cryptocurrencies, experienced significant sell-offs but hasn't recovered as robustly as others. This lagging behavior presents an opportunity to capitalize on potential faster and more favorable entry points. Currently, it is believed that Monero might still be at the end of a Wave 2, which could be advantageous as it allows for potential entry points into the market. Underlyingly, we are in a subordinate Wave 3, expected to reach between $250 and a maximum of $431. Zooming in, after completing Wave 2 at $101, we've developed Waves (i) and (ii), and are now attempting to complete Wave (iii). This wave is anticipated to reach at least $164, extending up to $233. Following this, we aim to seek initial entries for a possible Wave (iv), aiming to reach at least $250.
CRYPTO:XMRUSDLong
by freeguy_by_wmc
Monero is showing an absolutely incredible pattern in the chartsMonero (XMR) is showing an absolutely incredible pattern on the weekly and daily charts. Monero is one of the very few truly decentralized and anonymous blockchain cryptocurrencies on Earth, which is why the powers-that-be are working to make it harder and harder to obtain. This is why it was dropped from the criminal/fraudulent Ponzi scheme known as Binance recently. I see good things coming for those who hold this crypto in terms of usage. Good luck, and always use a stop-loss
KRAKEN:XMRUSDLong
by MetaShackle
2
Z CASH Would you risk one to gain 5?IT seems like a good area to pick up a "asset" at a previous All time low. Buying weakness vs strength historically a bad move. yet.. #MONERO got delisted from #Binance ysterday Whilst #ZEC has passed their compliance review --- coincidence??? Laughable stuff !!! But what can we do. Make some "money" on ZEC whilst using XMR if you are that way inclined. Target 1 seems reasonable this year Target 2 in 2025 sure why not and anything beyond from these levels and still are holding well done to you.
BINANCE:ZECUSD
by BallaJi
1