Bitcoin

Monero

<div class="coinjournal">
 <ul>
 <li>XRM/USD keeps trading in a range</li>
 <li>Bearish momentum persists</li>
 <li>A stronger dollar pressures most cryptocurrencies</li>
 </ul>
 
 Bitcoin rallied at the start of this week, triggering much-needed enthusiasm among crypto investors. However, the so-called “crypto winter” is still visible in other crypto markets, such as XMR/USD.&nbsp;
 Monero failed to capitalize on Bitcoin’s strength. Some other times, whenever Bitcoin rallied, other cryptocurrencies followed.&nbsp;
 Only this time is different. Therefore, one may argue that other cryptocurrencies lag and will jump, too, following Bitcoin’s lead. But another take is that Bitcoin gains will disappear, and a stronger US dollar will emerge.&nbsp;
 One thing is for sure, though – Monero’s technical picture is not encouraging.&nbsp;
 <img decoding="async" src="https://cdn.thebittimes.com/images/2023/10/25/8945484c73cc3a19fe610d6b7b41328e.webp" style="width: 100%" class="fr-fic fr-dib" width="1800" height="445">
 Monero chart by TradingView
 <h2 id="the-one-year-long-range-keeps-monero-at-bay">The one-year-long range keeps Monero at bay</h2>
 Monero’s underperformance this year might be viewed in two ways – one bullish and one bearish.&nbsp;
 The bullish view is that Monero is building energy, forming a contracting triangle that will break to the upside. And, on its way up, the market will break horizontal resistance given by the previous support area.&nbsp;
 The bearish view is that the one-year-long triangle is a bearish continuation pattern. If that is the case, the US dollar will keep gaining against its fiat peers and cryptocurrencies.&nbsp;
 $100 and $200 are key levels to watch for XRM/USD. Until any of them is broken, the <a rel="noopener noreferrer nofollow" title="range" href="https://thebittimes.com/tag/range.html">range</a> might continue still.&nbsp;
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/monero-fails-to-build-on-bitcoin-s-momentum-one-year-range-holds-tbt67671.html">https://thebittimes.com/monero-fails-to-build-on-bitcoin-s-momentum-one-year-range-holds-tbt67671.html</a>

Monero fails to build on Bitcoin’s momentum; one-year range holds

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TheBitTimes

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