Monero extends losses as only one major indicator shows buying momentum: weekly review

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Monero falls 23.56% this week

Highlights

Monero has dropped 23.56% over the past week and currently trades amidst strong selling pressure below short-term averages.
Momentum indicators point to oversold conditions and recent downside exhaustion, but buyers have not regained control.
The likely trading range for the next 7 days is $298 to $327, with a further decline favored unless support holds.

Oversold signals and volatility this week amid lingering trend

Technical analysis on the weekly timeframe underscores heightened volatility at 25.22% and a close near this week's range low. MACD shows neutral momentum, while ADX reflects a moderate trend strength with a mild buy bias. RSI, Commodity Channel Index, and Stochastic RSI all signal deep oversold conditions, hinting at downside exhaustion. The MA-50 now acts as the nearest dynamic resistance, with MA-20 overhead and MA-200 well below as key long-term support.

Limited rebound risk in coming week as downside bias prevails

In the coming 7 days, Monero is expected to stabilize within a range of $298 to $327 based on recent volatility and W1 price action. The likelihood of a rebound is limited—just 1 out of 4 major weekly indicators show a buy or strong buy, suggesting further declines are more probable. If buyers regain control and break $327, a test of higher resistance could follow. Conversely, a dip below $298 would increase downside risk.

Jainam Mehta, market strategist, sees Monero’s 23.56% drop this week as part of a broader risk-off rotation in crypto, with the price now testing strong technical support above the MA-200. He notes momentum signals remain weak, but with multiple oversold readings, downside may be running out of steam. For the coming week, Mehta expects consolidation between $298 and $327 unless sellers push decisively lower. "While the probability of a sustained rebound is low, I view deep oversold conditions as a potential setup for tactical long entries if we see signs of recovery above $327."

Earlier, analysts noted that Monero remained under persistent selling pressure driven by bearish technical signals. This week’s oversold readings and elevated volatility reinforce that downward pressure continues, making $327 a pivotal resistance to monitor for any potential shift in momentum.

Source of Data: XMR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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