The Currency analytics
By Julie Binoche
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.
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.
The technicals aren't helping much either.
The Money Flow Index, which mixes price action with volume to show if people are actually buying dips, tells a mixed story.
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…
Social media's telling two different stories at once. Monero's social dominance jumped from about 0.046% to 0.
The price levels matter big time now. Resistance sits at $361, right in the middle of that bearish flag pattern.
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.
TradingView data from February 12 caught everyone's attention when Monero dipped below that crucial $308 support level.
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.
Reddit's buzzing with Monero discussions, but it's mostly wishful thinking about potential catalysts.
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.
CoinMarketCap shows trading volume hit around $120 million on February 12, which is actually up a bit.
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…
Institutional players aren't helping either. Glassnode noted that big wallets haven't really added to their Monero positions since mid-January.