Monero Price Takes a Nosedive: Double Top Forms at $438 – Is It Over For the Bulls?

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Well, well, well. Looks like Monero’s price has done what no one wanted: it’s formed a bearish double top at $438. Yeah, that resistance? Apparently, it’s more stubborn than a cat refusing a bath. And guess what? Sellers are tightening control, and the next big stop? Well, it’s looking like $313, folks. Just a little bit of a drop, right? Nothing serious. 🙄

  • Bearish double top at $438? Check. Reversal from the recent uptrend? Double check.
  • Rising wedge breakdown? Oh yeah, that’s happening.
  • Next support somewhere between $319 and $313. Guess where we’re headed? 😉

Monero (XMR) price is really doing its best to shake off all that recent momentum. After a huge rejection from the $438 resistance level, it’s like the market said, “Yeah, nah, we’re done with this uptrend. Time to flip the script.” So now we’ve got this bearish double top and a breakdown from a rising wedge pattern. Classic.

Look, folks. The market’s in a shift. It’s like watching someone try to keep a straight face during a boring meeting – eventually, they’ll crack. And Monero’s recent price action? Yeah, it’s cracking. Multiple bearish candles? Check. Clear signs of losing upward momentum? Double check.

Monero Price Key Technical Points

  • Double top at $438 confirms Monero’s new mood: Bearish.
  • Rising wedge breakdown? I mean, it’s practically waving a red flag at us.
  • Next stop: $319 to $313 support. We’re going down, people.

And it doesn’t stop there! This whole Monero thing has become a sad little drama. After that double top at $438 (so 2023, right?), we’re looking at lower bearish candles like they’re going out of style. Sellers? Oh yeah, they’re in control now, and they’re not going anywhere. The previous uptrend? That’s cute. But Monero’s like, “Nope, not today.”

Oh, and let’s not forget the broader privacy-token scene. GHOST is now the cool kid in town, while Monero and ZCash are stuck standing by the snack table, wondering where they went wrong. Talk about pressure. 😅

The rejection at $438 wasn’t just some little hiccup; it was the beginning of a downward spiral. The rising wedge? Yep, it’s like that annoying coworker who thinks they can keep things together but really just falls apart. Now that wedge is broken, and Monero’s price is in full-on bear mode.

We’ve got liquidity sitting below the current price, just waiting to be tapped. Support zones between $319 and $313? Those are our next major stops. Markets love liquidity, and Monero? It’s got a big fat target on its back down there. 🤑

And don’t even get me started on the whole privacy-sector trend. Traders only care about privacy when their privacy’s at risk, and right now, Monero’s looking like the underdog in a race it’s not winning. Until buyers actually show up with some muscle, this bear market is just getting started.

That double top? Yeah, it’s the real deal. Historically, double tops are like the bad breakup you never see coming. And Monero’s recent uptrend? That was basically setting the stage for this tragic turn of events. When the second peak couldn’t break through resistance, we saw lower highs, rising wedge stress, and boom – here we are.

Now that the wedge is gone and sellers are stopping every attempt to rebound, the bears are in total control. Monero’s price? It’s not looking like a party, folks. Every attempt at a comeback has been shot down faster than your Wi-Fi signal on a bad day. Expect more of the same – a downward trend until we hit some solid support.

What to Expect in the Coming Price Action

Let’s be real. With this confirmed double top, a broken wedge, and constant rejection from major resistance, Monero’s price is heading straight for the $319 to $313 zone. Bears? They’re loving life right now. The only way this changes is if Monero pulls off some kind of miracle and reclaims $436. Spoiler alert: That doesn’t seem likely. 😂

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2025-12-03 20:27