đ Monero (XMR) Approaches Major Supply Zone at $180! đ„
For over two years, XMR has been locked in a tight range between **$180** (resistance) and **$100** (support). With XMR currently trading around **$175**, all eyes are on this critical level, which has historically seen multiple bull failures.
đ **Key Insights:**
- **Sideways Trading:** Since June 2022, XMR has struggled to break above $180, resulting in sharp pullbacks each time.
- **Consolidation Phase:** Markets often build momentum during consolidation, which can lead to significant price movements when a breakout or breakdown occurs.
đ **Potential Scenarios:**
- **Bullish Breakout:** A sustained move above **$180** could shift focus to the next resistance level at **$260**, determined by the measured move method.
- **Bearish Reversal:** Traders should remain cautious for a potential bearish reversal if XMR fails to hold near this critical zone.
đ„ With the marketâs energy building, the next moves for XMR could be monumental!
