Monero price slid on heavy selling into nearby support after multiple failed rebounds, with weak bounce volume and neutral RSI leaving room for further volatility in the short term.
Summary
- Intraday selling accelerated from a prior rebound zone, carving lower highs and large red candles as Monero price slipped back toward a nearby support area.
- Volume spiked on the drop but stayed muted on the bounce, while RSI held in neutral territory, signaling the move is corrective but not yet washed out.
- Moving averages still sit below price, keeping the broader trend constructive, but a failed hold at support could open deeper downside before any bullish reset.
Current Monero price is hovering around $440–465, with recent daily closes clustered in the mid‑400s.
Monero (XRM) experienced renewed downward pressure following a sharp intraday sell-off that pushed the cryptocurrency toward a nearby support zone, according to market data.
Monero price trending towards the $440-460 zone
The privacy-focused digital asset was trading lower at press time with elevated volatility, confirming significant participation during the decline, according to trading data. The Relative Strength Index remained in neutral territory, indicating the downward move had not yet reached oversold conditions.
Short-term chart analysis showed a loss of structure after multiple failed attempts to hold above prior mid-range resistance levels. Price action accelerated lower, producing a sequence of lower highs and expanding red candles, according to technical data. The decline originated from a prior rebound area where multiple recovery attempts failed.
Volume data indicated selling pressure expanded during the drop, while the subsequent bounce into current support occurred on lighter volume, according to market observers.
The immediate support area produced a small reaction bounce, though confirmation remained lacking, according to technical analysts. Overhead resistance stood at the former support zone, which now marks the level that would need to be reclaimed to restore short-term structure. Shorter- and longer-term moving averages remained below current price levels, suggesting the move represents a correction within a larger upward framework rather than a structural breakdown, according to technical indicators.
If the current support zone fails to hold, the lack of nearby structural support could allow price to decline further, analysts noted. The absence of oversold RSI conditions increases that risk, according to momentum indicators.
Conversely, if Monero holds above current levels and begins forming higher lows on the hourly chart, a corrective rebound toward the resistance area becomes possible, technical analysts said. That level remains critical, as any bounce without reclaiming that zone would likely face renewed selling pressure, according to market observers.
For momentum to shift meaningfully, price would need to regain the resistance zone with expanding volume, something not yet visible in chart data, according to technical analysis.
Despite bullish longer-term indicators including moving averages, the short-term structure showed bearish characteristics. Sharp downside moves, weak rebound volume, and repeated failures at prior support levels suggested the market remained in a corrective phase, according to technical data.
Until Monero either reclaims prior resistance or demonstrates clear basing behavior near current support, risk remains skewed toward continued volatility rather than immediate trend resumption, market analysts said.
