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Monero consolidating at $348.81 (+2.34%) in converging wedge pattern. Testing descending resistance (purple) vs ascending support (blue). U.S. Treasury softened stance on privacy (acknowledged legitimate uses for mixers), XMR reclaimed $357 support (bullish daily structure), funding rates positive (traders positioning long). Resistance $365-$375. Two scenarios: breakout above $375 to $400+ OR rejection, retest FVG $338-$345 then continuation. Bullish structure, coiling for move.
The Setup
XMR at $348.81 in converging wedge (purple descending resistance, blue ascending support). Consolidating between resistance $365-$375 (red zone) and support $330-$338 (green zone). FVG zones: $345-$355 (gray). Compression = breakout imminent. Two scenarios: break $375 to $400+ OR reject, pullback to FVG $338-$345, then push to $375-$400.
Key Levels
Resistance: $365-$375 (critical / 23.6% Fib), $380 (confirmation), $400 (psychological), $448 (major)
Support: $357 (reclaimed / bullish structure), $345-$355 (FVG), $338.70 (50% Fib / key), $330 (demand), $276 (line in sand)
News - March 10, 2026 (BULLISH DOMINANT)
BULLISH (DOMINANT):
• U.S. TREASURY SOFTENS STANCE: Acknowledged privacy tools (mixers) serve "legitimate financial privacy purposes" (departure from hardline rhetoric, aligns with relaxed regulatory approach)
• XMR reclaimed $357 support (flipped resistance to support = bullish daily structure confirmed)
• Funding rates POSITIVE (+0.0073%) = traders positioning long, rising bullish sentiment
• Money Flow Index rebounded from oversold (25 → 50) = capital inflows returning
• Awesome Oscillator shrinking negative bars = weakening bearish momentum
• Selling pressure fading (February dump exhausted)
• Community: "Best-looking 1-week chart in finance" (strong technical momentum)
• Delistings seen as BULLISH (purge of "paper XMR", forces real price discovery)
• Network Upgrade 19 (mid-2026) = protocol improvements, efficiency
• Jamtis integration research (long-term) = scalability, user experience upgrade
• Community funding active (CCS) = sustainable ecosystem growth
• XMR +2.34% today, outperforming BTC +1.12% (higher-beta asset)
• Broad market rally (Iran tensions easing, oil crash $119 → $86)
• Strong correlation with S&P 500 (macro-driven move, risk-on sentiment)
BEARISH/RISK:
• Resistance $375-$380 CRITICAL (must break for bullish continuation)
• Volume down -17.62% (price rise lacks conviction, no fresh capital surge)
• No coin-specific catalyst (move driven by macro, not XMR news)
• Social sentiment mildly bullish (5.2/10, not extreme)
• Overbought warnings (technical caution at resistance)
• EU ban on privacy coin listings by 2027 (regulatory risk persists)
• Chaikin Money Flow slightly negative (-0.03) = limited capital inflows
• Directional Movement Index weakening (bullish momentum fading)
• Failed January peak $802 (steep correction, now consolidating)
• Range-bound $276-$380 (sideways structure, waiting for catalyst)
• U.S. CPI data upcoming (macro trigger, volatility risk)
Two Scenarios
BREAKOUT TO $400+: Break $375-$380 with volume → Target $400 → $448. Triggers: U.S. Treasury stance attracts capital, reclaimed $357 holds, funding rates stay positive, CPI data benign, broad market rally continues, community optimism drives momentum, breakout above wedge resistance.
REJECTION THEN CONTINUATION: Reject $365-$375 → Pullback to FVG $338-$345 → Consolidate → Break $375 → Target $400-$448. Triggers: Profit-taking at resistance, volume weakness, healthy consolidation, then Treasury stance validates privacy narrative, macro rally resumes, wedge compression resolves up.
My Take
NEUTRAL/BULLISH. XMR consolidating at $348.81 in converging wedge (compression = move imminent). U.S. Treasury SOFTENED stance on privacy (acknowledged legitimate uses = MAJOR long-term bullish). XMR reclaimed $357 support (bullish daily structure). Funding rates positive (traders positioning long). MFI rebounded (capital returning). Selling pressure fading. Community: "Best chart in finance". Testing $365-$375 resistance. TRUE 50/50: Break $375 = $400+ target OR reject, pullback to FVG $338-$345, then continuation. Key: $357 support must hold. Wedge coiling for explosive move. Watch volume on breakout.
What do you think? Breakout or pullback first? Drop your take! 👇
🚀 Boost if this helped!
Not financial advice. DYOR.
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jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
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jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.