Monero (XMR) Weakens as Correction Deepens: Analysts Warn of Further Drop Below $350
NegativeCryptocurrency
- Monero (XMR) has dropped 8% in the past 24 hours, trading at $375, marking four consecutive days of losses amid a deepening market correction. The decline has erased last week's recovery, indicating a shift in trader sentiment as they brace for a potential further drop.
- The increase in short positions, now over 55% of trades, and a decrease in futures Open Interest to around $78 million suggest that traders are withdrawing capital due to fears of additional downside, highlighting a growing bearish outlook for Monero.
— via World Pulse Now AI Editorial System
