Monero
Why Monero is up 4.0% today
Analysis
Monero (XMR) rose about 4% over the past 24 hours as buyers defended the $290 area and a whale reportedly accumulated around 7K XMR, supporting a potential breakout narrative. Cointelegraph also noted that Monero usage and demand have held up despite exchange delistings, as some darknet markets continue shifting toward XMR, which likely reinforced bullish sentiment.
Contributing Factors (3)
Monero faces short-term selling pressure despite strong on-chain activity
Monero (XMR) faces short-term selling pressure below key moving averages. On-chain activity remains strong despite exchange delistings. Support lies at $300 while the immediate resistance sits near $3...
Monero defends $290 as whale adds 7K XMR – Breakout brewing above THIS?
Whale accumulation collides with heavy leverage as volatility tension builds.
Monero use holds despite delistings as darknet markets shift to XMR
TRM Labs says Monero usage remains above pre-2022 levels as darknet markets shift toward XMR, while unusual node behavior may offer investigators network-level clues.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.