Monero has benefited from recent market preference for privacy given recent actions to weaponize financial instruments and access.
(ex: Canada v. Can Citizens, NATO countries v. Russia).
8 consecutive weekly green candles saw XMR appreciate from $130 to $290.
Today, XMR is testing 20 EMA support with multiple indicators reflecting a cooling off period is underway.
Recapturing the 20 EMA would not be bullish given broader markets & headwinds, but would help build support level & reduce likelihood of testing $150 down to $115 price points.
While Monero has longevity, price action will be susceptible to significant volatility as nation states and institutions work to maintain status quo and push centralized agendas and green initiatives that view Proof-of-Work as antithetical to the ESG narrative.
(ex: Canada v. Can Citizens, NATO countries v. Russia).
8 consecutive weekly green candles saw XMR appreciate from $130 to $290.
Today, XMR is testing 20 EMA support with multiple indicators reflecting a cooling off period is underway.
Recapturing the 20 EMA would not be bullish given broader markets & headwinds, but would help build support level & reduce likelihood of testing $150 down to $115 price points.
While Monero has longevity, price action will be susceptible to significant volatility as nation states and institutions work to maintain status quo and push centralized agendas and green initiatives that view Proof-of-Work as antithetical to the ESG narrative.
