Xmr

Looking for XMRs final UTAD before bear market

PSY—preliminary supply, where large interests begin to unload shares in quantity after a pronounced up-move. Volume expands and price spread widens, signaling that a change in trend may be approaching.

BC—buying climax, during which there are often marked increases in volume and price spread. The force of buying reaches a climax, with heavy or urgent buying by the public being filled by professional interests at prices near a top. A BC often coincides with a great earnings report or other good news, since the large operators require huge demand from the public to sell their shares without depressing the stock price.

AR—automatic reaction. With intense buying substantially diminished after the BC and heavy supply continuing, an AR takes place. The low of this selloff helps define the lower boundary of the distribution TR.

ST—secondary test, in which price revisits the area of the BC to test the demand/supply balance at these price levels. For a top to be confirmed, supply must outweigh demand; volume and spread should thus decrease as price approaches the resistance area of the BC. An ST may take the form of an upthrust (UT), in which price moves above the resistance represented by the BC and possibly other STs before quickly reversing to close below resistance. After a UT, price often tests the lower boundary of the TR.

SOW—sign of weakness, observable as a down-move to (or slightly past) the lower boundary of the TR, usually occurring on increased spread and volume. The AR and the initial SOW(s) indicate a change of character in the price action of the stock: supply is now dominant.

LPSY—last point of supply. After testing support on a SOW, a feeble rally on narrow spread shows that the market is having considerable difficulty advancing. This inability to rally may be due to weak demand, substantial supply or both. LPSYs represent exhaustion of demand and the last waves of large operators’ distribution before markdown begins in earnest.

UTAD—upthrust after distribution. A UTAD is the distributional counterpart to the spring and terminal shakeout in the accumulation TR. It occurs in the latter stages of the TR and provides a definitive test of new demand after a breakout above TR resistance. Analogous to springs and shakeouts, a UTAD is not a required structural element: the TR in Distribution Schematic #1 contains a UTAD, while the TR in Distribution Schematic #2 does not.

A suspected $330 million Bitcoin theft flagged by on-chain investigator ZachXBT has led to a significant surge in Monero ($XMR) price. On April 28, ZachXBT identified a suspicious transaction involving 3,520 BTC, worth $330.7 million, being moved from a victim’s wallet to a specific address. Shortly after, the stolen funds were quickly laundered through multiple exchanges and swapped into Monero, causing the cryptocurrency’s price to skyrocket.

XMR surged by 50%, peaking at an intraday high of $339 before stabilizing at $289, up 25% in 24 hours. While some speculated that North Korea's Lazarus Group could be behind the theft, ZachXBT dismissed the theory, suggesting that independent hackers were likely responsible.

In a related discussion, Chainalysis pointed out that although privacy coins like Monero are gaining attention for their potential use in criminal activities, the majority of illicit transactions still rely on mainstream cryptocurrencies such as Bitcoin and Ethereum. Despite this, Monero is seeing increasing acceptance, with recent reports confirming its use in Spar supermarkets in Switzer

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