Latest news with #XMR
Yahoo
2 days ago
- Business
- Yahoo
Markets Are Stalling, Liquidity Is Tightening — And Solana Could Be The First Domino To Fall
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Despite being a top-six cryptocurrency by market capitalization, Solana has notably underperformed during the recent altcoin recovery phase. Technical analysis reveals concerning patterns that suggest the asset may be entering a period of exhaustion, potentially making it vulnerable to significant downside if broader cryptocurrency liquidity begins to flow out of the market. Solana established a significant low of $95 in April 2024 before embarking on a substantial rally that peaked at $187 last week—representing a 97% gain from the cycle low. However, this impressive percentage move masks underlying technical weakness that has become increasingly apparent when compared to peer altcoins. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . While Solana's absolute gains appear substantial, the asset has conspicuously lagged behind the broader altcoin recovery. This relative weakness is particularly notable given Solana's position as one of the largest cryptocurrencies by market cap and its historically strong correlation with altcoin momentum cycles. Understanding the Three-Drive Formation The daily chart reveals a classic three-drive pattern—a technical formation that often signals the end of a trending move. This pattern consists of three successive higher highs, each accompanied by diminishing momentum and follow-through. Key characteristics observed: Three distinct peaks taking out previous daily highs Failure to sustain bullish momentum with strong closing prices Decreasing volume and conviction on each successive high Lack of meaningful breakout beyond the established range Three-drive patterns are considered exhaustion signals because they demonstrate: Diminishing buying pressure – Each new high requires more effort to achieve Seller absorption – Market participants begin taking profits at higher levels Momentum divergence – Price makes new highs while underlying strength weakens Stronger Performers Show Different Characteristics A comparative analysis with other major altcoins reveals Solana's relative weakness: SUI, TAO, and XMR Performance Metrics: Demonstrated willingness to trade at higher levels consistently Successfully retraced to above 50% of their respective weekly ranges Showed sustained momentum following breakout attempts Maintained stronger relative strength ratios Solana's Contrasting Behavior: Failed to maintain positions above key weekly range levels Showed immediate weakness following new highs Demonstrated poor follow-through on upside attempts Trending: New to crypto? on Coinbase. Important Clarification on Solana's Value Proposition This technical analysis should not be interpreted as a fundamental critique of Solana's underlying value or technology. The network continues to demonstrate: High transaction throughput and low fees Growing developer activity and ecosystem expansion Significant institutional adoption and integration Strong use cases in DeFi, NFTs, and Web3 applications Technical Patterns vs. Long-term Fundamentals The current technical weakness represents a short-to-medium term market sentiment issue rather than a fundamental deterioration of the protocol's value proposition. However, in volatile crypto markets, technical factors often drive price action regardless of underlying fundamentals. Potential Downside Scenarios If the broader altcoin market experiences liquidity outflows, Solana's current technical position suggests several concerning possibilities: Amplified Downside: Given its relative weakness, Solana may experience disproportionate selling pressure Support Level Tests: The April low of $95 could come back into play as a critical support level Momentum Reversal: The three-drive pattern often precedes significant trend reversals Broader Market Context The cryptocurrency market remains highly correlated, meaning: Individual altcoin weakness can spread to the broader sector Liquidity flows tend to move in waves across the ecosystem Technical breakdowns in major assets like Solana can trigger broader risk-off sentiment For Current Holders Risk Management: Consider position sizing and stop-loss levels given technical warning signs Time Horizon: Distinguish between short-term technical concerns and long-term fundamental outlook Portfolio Diversification: Avoid over-concentration in assets showing relative weakness For Potential Investors Entry Strategy: Current levels may not represent optimal entry points given technical setup Patience Premium: Waiting for clearer technical signals or fundamental catalysts may be prudent Comparative Analysis: Consider allocation to altcoins showing stronger relative performance Solana's current technical picture presents a compelling case for caution despite the asset's strong fundamental positioning. The three-drive exhaustion pattern, combined with relative underperformance compared to peer altcoins, suggests that SOL may be vulnerable to significant downside if market conditions deteriorate. While this analysis doesn't diminish Solana's long-term value proposition or technological merits, it highlights the importance of technical analysis in timing market exposure. Investors should carefully weigh these technical warning signs against their investment timeline and risk tolerance. The cryptocurrency market's inherent volatility means that technical patterns like these often resolve quickly and decisively. Whether Solana can break out of this concerning setup or succumb to the suggested exhaustion will likely become clear in the coming weeks, making this a critical period for SOL holders and potential investors to monitor closely. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock Send To MSN: 0 This article Markets Are Stalling, Liquidity Is Tightening — And Solana Could Be The First Domino To Fall originally appeared on Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Are XMR Traders Buying The Dip? Monero Futures Open Interest Surges as Price Falls By Nearly $100 in 3 Days
Privacy-focused cryptocurrency Monero (XMR) has seen a sharp price sell-off over the past three days, with open positions in futures rising to their highest level since December. On Wednesday, the largest privacy coin by market capitalization fell to $325 on Kraken, having peaked at $420 on Monday, according to data source TradingView. The sell-off follows a meteoric seven-week rise from $165 to $420, supposedly led by a favorable U.S. regulatory outlook and impending FCMP++ upgrade, which will enhance Monero's quantum resistance by providing forward price decline is characterized by increased participation in the futures market, where the number of active or open contracts jumped to 161.37K XMR, the highest tally since Dec. 20, according to data source Coingecko. The OI has increased by 20% over the past three days. An increase in open interest alongside a price drop is typically interpreted as representing a bearish sentiment, with more traders taking short positions in anticipation of a price decline. That's not necessarily the case with XMR, as the perpetual funding rates continue to be positive, indicating a bias for long positions. Funding rates, charged every eight hours, represent the cost of holding levered futures bets, with positive values representing a dominance of bullish long bets. Therefore, the uptick in XMR's open interest likely represents a "buy the dip" mentality – traders taking long positions on the price dip, anticipating a quick in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Mayor
5 days ago
- Business
- Business Mayor
Altcoins surge! XMR, AAVE, and WLD outperform as Bitcoin holds support
Bitcoin, at press time, was consolidating above $109,000, showing resilience within the upper Bollinger Band range. The RSI was at at 67.71 – hovering near overbought territory – A sign of strong bullish momentum without immediate signs of exhaustion. Meanwhile, the OBV remained flat – A sign of a pause in buying pressure, despite recent gains. Source: TradingView This steady range-trading in Bitcoin has opened the door for capital rotation into altcoins like XMR, AAVE, and WLD. With BTC holding support and volatility compressing across the board, traders might be increasingly willing to chase higher returns in riskier assets. Especially since Bitcoin serves as a stable anchor for the market. WLD breaks out, but… Worldcoin has climbed by over 35% in the past two weeks, consolidating above $1.43 with its bullish momentum still intact. The RSI was at 63.94 at press time, reflecting steady upward pressure without overbought signals. However, the CMF remained slightly negative, indicating a potential drop in sustained buying power. Source: TradingView This, after the broader privacy coin sector advanced by over 3%, pushing its combined valuation past $10 billion. While the sector-wide rally did offer some respite, WLD's muted on-chain flows do raise some questions about whether it can maintain its gains without stronger capital inflows. XMR hits overdrive, but is a cool-off coming? Monero surged to $411, mirroring the broader privacy coin rally that pushed the sector past a $10 billion valuation. However, its daily RSI soared to 81.86 – firmly in overbought territory – raising caution about a potential short-term correction. The MACD was bullish, with wide separation between signal lines, reinforcing the strength of the uptrend. Source: TradingView Still, the slight dip in daily volume hinted at waning momentum. While XMR has clearly benefited from the privacy coin narrative, traders may want to brace for consolidation or a retest unless fresh catalysts emerge to support sustained vertical price action. Read More Lido breaks out: Is $4 the next target for LDO? AAVE joins the rally, but signs hinted at exhaustion AAVE climbed to $267, extending gains from its mid-May breakout and riding the sector-wide upswing in privacy and DeFi-linked tokens. However, with the RSI at 71.57, the asset entered overbought territory – Often a precursor to short-term pullbacks. Source: TradingView Despite solid momentum and higher lows supporting the uptrend, the recent string of small-bodied candles alluded to indecision creeping in. With volume slightly falling too, bulls may need a fresh catalyst to sustain the climb. A brief consolidation phase could be healthy, especially after the nearly 80% rally seen over the past month.
Yahoo
20-05-2025
- Business
- Yahoo
AAVE Surges 24% in Explosive Rally, Breaking Key Resistance Levels
AAVE's explosive rally broke through multiple resistance levels with increasing trading volume, particularly during the late-night hours when it surpassed the $250 psychological barrier. The cryptocurrency has established support around $240 while consolidating above $263, suggesting potential for further upward movement as institutional interest grows amid broader market developments. This performance comes as Bitcoin approaches new all-time highs and public companies continue increasing their cryptocurrency holdings, with firms like Strategy Corp planning to raise $84 billion for Bitcoin purchases. Technical Analysis Highlights Clear uptrend formation with higher lows and higher highs, breaking through multiple resistance levels with increasing volume, according to CoinDesk Research's technical analysis data model. Explosive price action between 23:00-02:00, with volume peaking at 232,392 units as AAVE broke through the $250 psychological barrier. Support established around $240, with $267.656 serving as immediate resistance. Consolidation behavior between $262.120 and $267.540 in the last hour, with notable volatility around 02:47. Volume peaked during the 02:42 and 02:50 candles, suggesting institutional interest at these levels. Higher low pattern formation since 03:19, with recent move from $263.566 to $264.776 at 03:27 indicating renewed buying pressure. Price establishing a base above $263 before potentially challenging the $267.656 resistance level again. External References "Bitcoin impulse move toward new highs sets a fire under HYPE, ETH, XMR and AAVE", Cointelegraph, published May 19, 2025. "Is Panama City Next? Mayor Teases Bitcoin Reserve After Diplomatic Exchange", Bitcoinist, published May 20, in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Key Reasons Monero Surge Continues Even as Bitcoin Bulls Take a Breather
Bitcoin's (BTC) rally has paused above $100K, slowing the recovery rallies in major altcoins. But one coin stands resilient: monero (XMR), the world's largest privacy-focused digital asset by market value. XMR has risen 4.6% this week to $347, with prices gaining 2% in the past 24 hours, according to CoinDesk data. The cryptocurrency has outshone every other top 100 token by market value in the past 24 hours. Bitcoin, the market leader, has dropped 1.6% in the past 24 hours, taking the weekly decline to 2%. Monero's performance is even more impressive, considering its 110% recovery from the low of $165, hit during the early April sell-off when bitcoin dropped to $75,000. XMR's price charts had signaled the meteoric rise with a bullish golden cross a month ago. The rally can be attributed to several factors, including a favorable regulatory outlook, according to HTX. "In the U.S., the regulatory outlook has shifted as the FIT21 crypto legislation advances and the SEC shows increasing ambiguity in classifying certain tokens, easing market concerns over privacy coin regulation and prompting cautious capital inflows," analysts at HTX Research told CoinDesk. The impending Full-Chain Membership Proofs(FCMP++) upgrade, a new and more powerful privacy feature integration, due later this year, may also be galvanizing investor interest. "FCMP++ enhances Monero's quantum resistance by providing forward secrecy, ensuring that a quantum adversary cannot break the privacy of past transactions even if they solve the ECDLP. By replacing ring signatures with full chain membership proofs, it eliminates vulnerabilities that quantum computers could exploit to deanonymize transactions," Monero society member @DatCryptoPiggie said on X. Here is an analogy to help one understand the above. Imagine having a personal diary with a lock, but there's a risk of someone developing a super-smart device to crack the lock. FCMP++ is likely an added layer of smart lock that will protect currency entries while ensuring that a potential entity managing to bypass the security tricks can't see past entries. HTX also pointed to rumors of major exchanges looking to list XMR as a source of bullish pressure for the cryptocurrency. "Rumors that major exchanges are considering relisting some privacy coins have further boosted sentiment," HTX analysts said. "Given their lower liquidity and concentrated holdings, privacy coins exhibit higher price elasticity than major cryptocurrencies, often resulting in more extreme price movements when capital enters the market." Lastly, some observers have suggested that the recent suspected BTC theft of $330 million may have been laundered through XMR, leading to a bullish price in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
