Monero retreats from $560 to $500, key support at $490-500
- —XMR trades near $500 after retreating from a high of $560
- —RSI fell to 53, MACD and histogram are weakening
- —Open interest dropped to $151 million, funding remains positive
- —Key support zone is $490-500, where longs are positioned
Why it matters: Holding $490-500 would stabilize XMR, while a breakdown would trigger a cascade of long liquidations and accelerate the decline.
Source: Cryptonews.net