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Monero Price Prediction: XMR Trapped Below $180 as Exchange Liquidity Dries Up

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Monero Price Prediction: XMR Trapped Below $180 as Exchange Liquidity Dries Up

Monero (XMR) slammed into a brick wall at $380 this week, fueling a bearish Monero price prediction as momentum drains from the privacy coin sector.

The rejection was violent and precise. Price action is now curling downward, trapped beneath the 200-day Exponential Moving Average (EMA) with bears firmly in control of the tape.

Monero Price Prediction: Can XMR Hold $150 or Is a Crash to $135 Coming?

XMR is sitting at $355.95 on the 2h chart, and the structure here is messy but there is something worth noting underneath the noise.

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Price got absolutely obliterated in early February, dropping from above $400 all the way to $287 in a near-vertical flush, and what has happened since then is a slow and choppy recovery that has been grinding higher lows over the past 6 weeks without ever fully breaking down again.

Source: XMRUSD / TradingView

The $400 level marked on the chart as a red dotted line is the psychological and technical ceiling that has not been reclaimed since the initial dump, and every rally attempt since February has failed to get back there, including the most recent push to $383 which rolled over and pulled back to the $340 range before bouncing again.

The current price action shows XMR bouncing off the $340 area for the second time in a week, which is starting to define that zone as a short term support floor, and the move back toward $356 suggests buyers are showing up there consistently.

The immediate resistance to clear is the $360 to $370 range where price has been churning, and above that the $383 recent high is the last wall before $400 comes back into view.

The bearish case is straightforward, lower highs since the February peak combined with a choppy recovery structure suggests this is distribution rather than accumulation, and a break below $340 would open the door back toward the $305 to $310 lows.

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The $400 level is the line in the sand. Until that gets reclaimed, this chart is still in recovery mode, not breakout mode.

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The post Monero Price Prediction: XMR Trapped Below $180 as Exchange Liquidity Dries Up appeared first on Cryptonews.

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Crypto World

SEC Sends Proposed Crypto Interpretation to White House for Review

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Cryptocurrencies, Law, SEC, White House

The financial regulator’s plan to reinterpret how federal securities laws apply to crypto assets is ”pending review” by the White House’s Office of Management and Budget.

The US Securities and Exchange Commission (SEC) has forwarded its proposal to have most crypto assets not treated as securities under federal law to the White House’s Office of Management and Budget.

According to information available through the US General Services Administration, on Friday the SEC sent two proposed rules to the White House for review, including its interpretative notice from last week regarding which digital assets the agency could consider a security under federal law.

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As of Monday, government records showed the proposal as “pending review” by the White House, potentially changing how the SEC handles regulation and enforcement of digital assets.

Cryptocurrencies, Law, SEC, White House
Source: Reginfo.gov

In a notice issued by the SEC last week, Chair Paul Atkins said that the agency would not consider four types of digital assets as securities under its purview: digital commodities, digital tools, digital collectibles — including non-fungible tokens — and stablecoins. The interpretation said that it would provide the agency with a “coherent token taxonomy” for the four types of assets and address how a “non-security crypto asset” may or may not be considered an investment contract.

The SEC rule, if finalized, would provide a bridge to crypto regulation until Congress were to pass a market structure bill to clarify comprehensive regulations of digital assets. The interpretation of federal securities laws followed the signing of a memorandum of understanding with the Commodity Futures Trading Commission (CFTC) — the other federal financial regulator expected to regulate digital assets under the proposed market structure bill — earlier this month.

Related: CFTC staff clarify expectations on using crypto as collateral

White House reportedly reached “agreement in principle” on crypto bill

Politico reported on Friday that representatives from the White House and Congressional lawmakers reached a deal on stablecoin yield that could advance the market structure bill in the Senate Banking Committee. The panel indefinitely postponed its markup of the bill, called the CLARITY Act, in January following Coinbase CEO Brian Armstrong saying the exchange could not support the legislation as written.

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As of Monday, the banking committee had not publicly announced a new date for the bill’s markup. Senate Majority Leader John Thune reportedly said in March that the chamber intended to prioritize a vote on the SAVE America Act — legislation that would require voters to provide proof of US citizenship in person to register — before bills with bipartisan support, such as CLARITY.

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