Monero Faces Sharp Rejection After Attempting $440 Breakout — Is a Deeper Pullback Ahead?
Monero (XMR) made another push toward the $440 resistance level on Sunday, November 30, but its bullish momentum was short-lived. Once Bitcoin slipped back below $90,000 and triggered a broad market downturn, XMR was hit by a wave of selling pressure as well. From its local high, Monero has now dropped about 10.6%, signaling that the rally may be losing steam in the short term.
Yet despite the pullback, Monero has stood out among major privacy coins—behaving far more resiliently than most of its peers during the recent volatile stretch.
Monero Shows Relative Strength Amid Privacy Coin Divergence
While most large-cap privacy tokens struggled, Monero was one of the few attempting to push into new-high territory this week. Since the start of November:
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Monero (XMR) is up ~16%
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ZCash (ZEC) is down 22.5%
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Dash (DASH) is down 15.2%
This highlights Monero’s impressive short-term strength. However, zooming out paints a different picture.
Since September:
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ZCash has skyrocketed more than 760%
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Monero has gained roughly 50%
Compared to ZEC’s explosive rally, XMR’s performance looks modest—even if more stable.
Given this divergence, KriptoNovini.bg analyzed whether XMR’s recent strength has room to continue—or if the next move brings a deeper pullback first.
Long-Term Trend Remains Bullish — but Cracks Are Emerging
On the weekly chart, Monero successfully broke above its previous local high at $420, confirming a bullish continuation pattern. The next major resistance sits at $518, which marks Monero’s April 2021 peak—a level untouched for more than three years.
However, the daily chart offers a more cautious picture.
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Price was sharply rejected near $438
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A significant imbalance zone near $360 is now visible
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The rejection suggests buyers were unable to maintain momentum
This imbalance region is currently one of the strongest magnets for a short-term correction.
Mixed Momentum Signals: Weekly Strength vs. Daily Hesitation
Technical indicators highlight a split between long-term strength and short-term weakness:
Chaikin Money Flow (CMF)
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Weekly CMF: Strong capital inflows → bullish
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Daily CMF: Largely neutral → short-term momentum fading
MACD
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Weekly MACD: Strong upward momentum
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Daily MACD: Weakening, hinting at consolidation or a pullback
This divergence is a classic signal of an impending cooldown before any continuation higher.
Liquidation Map Points Toward $355–$360 Sweep
Liquidation data provides additional clarity:
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Long liquidations down to $355 carry much higher cumulative leverage
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Short liquidations between $440–$450 are smaller in comparison
When long liquidations outweigh short liquidations, price tends to drift lower to clear over-leveraged long positions.
This suggests:
A pullback toward $355–$360 is currently the path of least resistance.If bulls reclaim momentum, a move toward the $440–$450 liquidation cluster could trigger a sharp upside reaction.
Critical Levels to Watch: Support Must Hold
To preserve Monero’s broader bullish structure, traders are watching two key swing lows:
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$233
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$320
A breakdown below either level would significantly damage market confidence and invalidate the higher-timeframe trend.
For now, however, neither level is under immediate threat.
What’s Next for XMR? A Buying Opportunity or a Warning Sign?
Based on technical structure, liquidity distribution, and recent momentum:
A retracement to the $350–$360 zone looks increasingly likely This region may offer a major buying opportunity for traders waiting for a clean retest As long as this support holds, the bullish structure remains intact A return above $440 could quickly open the door toward $450+ and eventually $518
The next few trading sessions should reveal whether this move is simply a healthy reset within a strong uptrend—or if Monero is at risk of a more significant correction.
Georgi Shopov publication: "Monero Pullback Likely: Liquidation Data Points to $355 Retest" was written for 24crypto.newsNews from today
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