Monero price breaks below $280–$290 support zone, now trading just above next support near $260.
Rising sell-side pressure in XMR suggests sellers remain in control, despite broader Bitcoin market strength.
Failure to hold $260 could lead to deeper correction toward $230–$235 support cluster from April consolidation.
Monero (XMR) has experienced a sharp decline, falling below crucial support levels and trading near $260 as selling pressure intensifies. The cryptocurrency’s drop comes despite Bitcoin showing strength, raising concerns over further downside risk.
Monero breaks major support zone at $280–$290
Recent market activity shows Monero breaking decisively below the $280–$290 range, an area previously acting as a strong demand zone. This level aligned with the 50-day simple moving average near $315 and the 9-day exponential moving average at $292.84, both now positioned as resistance.
A tweet from Alpha Crypto Signal (@alphacryptosign) noted that XMR is “dumping hard even while $BTC is showing strength,” confirming the loss of the marked support zone. Current price action places XMR just above the next horizontal support at $260, with trading volume surging above average during the sell-off.
Key levels to watch: $260 and $230 regions
Alpha Crypto Signal further stated that if $260 holds, a short-term relief bounce may be possible. The psychological round-number level coincides with oversold momentum conditions, which may attract opportunistic buyers for a technical rebound.
Nevertheless, the low of the week below 260 would prop open the gateway to the 230 to 235 zone. This zone was the focus of the consolidation in April and the one that may become the next key cluster of support of the cryptocurrency in case the bearish impetus is prolonged.
Volume analysis and risk management guidance
The daily chart reveals a rising sell-side imbalance, suggesting that sellers remain firmly in control. Elevated trading volumes on down days reinforce the intensity of the current downward move.
Under the existing circumstances, Alpha Crypto Signal recommended traders to avoid aggressive trades on XMR. In the occasion of those still in place, size reduction and stringent control of risks should be in order to reduce the exposure in instances of increased volatility.At the time of writing Monero has the value of 266.58 dollars after a decrease of 6.01 and 12.97 percent over the last 24 hours and a week respectively. The future meetings will significantly define the ability of XMR to organise and remain above the $260 or fall toward severe levels of correction.
