Altcoins News
By Julie Binoche
1 / 15
Monero's getting hammered. The privacy coin can't catch a break since mid-January, even when other cryptos try to bounce back from their own beatings.
2 / 15
After that nasty drop in late January, Monero found some breathing room near $276 on February 6, but nobody's really convinced it'll stick.
3 / 15
The technicals aren't helping much either.
4 / 15
The Money Flow Index, which mixes price action with volume to show if people are actually buying dips, tells a mixed story.
5 / 15
Exchange flows paint a similar picture. February 12 saw net outflows of roughly $372,000 from exchanges - that's usually a bullish sign since it means people are moving coins to…
6 / 15
Social media's telling two different stories at once. Monero's social dominance jumped from about 0.046% to 0.
7 / 15
The price levels matter big time now. Resistance sits at $361, right in the middle of that bearish flag pattern.
8 / 15
There's one tiny bright spot. The Bull-Bear Power indicator shows bearish momentum might be losing some steam. That could give buyers a chance if they actually decide to step up.
9 / 15
TradingView data from February 12 caught everyone's attention when Monero dipped below that crucial $308 support level.
10 / 15
Some traders on Binance are reportedly going short, betting on more downside. Can't blame them really, given how weak the Relative Strength Index looks.
11 / 15
Reddit's buzzing with Monero discussions, but it's mostly wishful thinking about potential catalysts.
12 / 15
The developers aren't sitting idle though. On February 10, the Monero Research Lab announced they're working on better transaction obfuscation to boost user privacy.
13 / 15
CoinMarketCap shows trading volume hit around $120 million on February 12, which is actually up a bit.
14 / 15
Santiment dropped some concerning data on February 11. Monero's on-chain transaction volume fell 15% over the past week, which could mean people are losing interest or just…
15 / 15
Institutional players aren't helping either. Glassnode noted that big wallets haven't really added to their Monero positions since mid-January.
The Currency Analytics
Want the full story?