As XRP attempts to climb to higher levels, an analyst affirmed that the altcoin is “doing what it needs to do” to continue its bullish rally, highlighting multiple key structures in key timeframes.

XRP Enters Inflection Point

After retesting the $1.90 area on Friday morning, XRP saw a 4.6% intraday bounce toward the mid-zone of its local range. Over the past five days, the cryptocurrency has been hovering in the $1.85-$2.00 price range, failing to hold the upper zone of this range.

Market watcher ChartNerd pointed out a key reversal pattern that could signal a massive price expansion may be around the corner, noting that the altcoin is at a “critical inflection point” as it retests a macro support zone.

He explained that a running flat ABC correction formation is “a sophisticated structure where the failure of the ‘C’ wave to breach previous lows signals underlying bullish strength.”

XRP has been mirroring the same structure over the past 400 days, which would point “toward a structural breakout, marking the transition from a yearly long base into a new primary uptrend” if it resolves.

As the chart shows, “the wave counts repeating toward the structure are evident in XRP’s price action,” and as long as the macro support holds, around the $1.80 area, the C wave “could be working in the bulls’ defense.”

We could be just building a base above $1.80, marking the C wave in this running flat correction before the major breakout.

ChartNerd added that there could be a scenario in which XRP deviates below its major support before a V-shape recovery. However, he warned that losing this area would not be healthy, detailing that the only way to invalidate the pattern would be for the price to close below the structure’s support, retest it as resistance, and drop to lower levels.

XRP’s Price Defends Macro Support

The analyst emphasized the importance of the $1.80 level, noting that XRP has been defending this territory for over a year and could lead to a new all-time high (ATH) rally.

“This is a macro accumulation zone, and we evidently also have two major levels of descending resistance for XRP,” he detailed, highlighting that when the first multi-month descending resistance broke, the altcoin rallied to a new all-time high.

It’s pretty simple: we have descending resistance on our heads at the moment, and we once had a point of contact on this resistance at the $2.40 high (…) So, at this moment in time, the simplicity tells us: break the descending resistance, and this is where XRP really starts gearing up for further expansion.

Based on this, ChartNerd asserted that if the altcoin defends the $1.80 macro support, then a similar rally is likely. Similarly, he pointed to a bullish reversal structure building below the key $2.70 resistance on XRP’s chart.

Per the post, the cryptocurrency formed a three-month falling wedge pattern that was broken out of during the early January rally. Now, the price is retesting the pattern’s breakout level as support and could be preparing to climb toward the level it started forming.

“So XRP just needs to defend the guard at $1.80, and this is where we could be looking for that sort of major expansion and looking to press back up to the target of $2.70,” before potentially challenging its pre-Q4 range, he concluded.

21Shares has announced the launch of the first spot DOGE Exchange-Traded Fund (ETF) backed by the Dogecoin Foundation, aiming to offer investors regulated, physically backed access to the largest memecoin by market capitalization.

Dogecoin Goes From Memecoin To Wall Street

On Wednesday, financial services company 21Shares announced the launch of its 21Shares Dogecoin ETF (TDOG) on Nasdaq to provide “a new way to gain physically-backed DOGE exposure in traditional portfolios.”

According to the announcement, the firm’s DOGE ETF is the only investment product of its category to be officially endorsed by the Dogecoin Foundation, the nonprofit organization dedicated to supporting the ecosystem’s development.

Notably, two other spot DOGE ETFs are live: Grayscale’s GDOG and Bitwise’s BWOW. As reported by NewsBTC, the funds debuted in late November, becoming the first DOGE ETFs in the US market.

TDOG’s launch builds on 21Shares’ collaboration with the House of Doge, the corporate arm of the foundation supporting the ecosystem, to create new opportunities across the Dogecoin ecosystem.

The newly launched product will offer investors direct exposure to DOGE through a fully backed, transparent, and exchange-traded vehicle, holding the asset on a 1:1 basis in institutional-grade custody.

Regarding its decision to launch a DOGE ETF, 21Shares affirmed that the memecoin “captures the spirit of internet culture and continues to evolve in our digital economy.” Moreover, the firm argued that it has “helped onboard many new users to crypto, and for many people, this may serve as their first step into crypto.”

Federico Brokate, 21Shares’s Global Head of Business Development, stated that “Dogecoin is a unique asset with a global community and expanding real-world use cases,” adding that “TDOG offers investors regulated, physically backed exposure to DOGE through an ETF structure they already understand and trust.”

DOGE Prepares For New Rally

Analyst Bitcoinsensus suggested that the leading memecoin “could be on for a massive rally to the upside” based on its performance throughout this cycle. The market watcher explained that the cryptocurrency has been experiencing “mini cycles” since 2023, which have led to “bigger and bigger rallies.”

According to the chart, after its late 2022 pump, Dogecoin consolidated within a tight range before a 190% breakout in early 2024. Similarly, the memecoin repeated the same pattern throughout 2024, accumulating for months before a 480% breakout at the end of that year.

Now, DOGE has been consolidating within the $0.125-$0.280 price range for nearly a year, leading the analyst to believe that a breakout towards a higher target near the $0.750 level is possible.

Meanwhile, Trader Tardigrade also suggested that Dogecoin may be preparing for a massive breakout as it appears to be following its performance between late 2022 and 2024.

At the time, the cryptocurrency had apparently bottomed out but ultimately recorded another local low before reversing. Based on this, the analyst affirmed that the memecoin “might see a slightly lower low” in the coming weeks, before the next massive surge occurs.

As of this writing, Dogecoin is trading at $0.1249, a 1.75% decline in the daily timeframe.

As the market erases its 2026 gains, Bitcoin (BTC) has fallen to its lowest level in weeks and is attempting to reclaim a crucial level. Some market observers have warned that a retest of the November lows is likely if volatility continues.

Bitcoin Breaks Down From Key Support

On Wednesday, Bitcoin continued to pullback and hit a three-week low of $87,263. The cryptocurrency had been trading between the $90,000-$96,000 range since its start-of-the-year breakout, reaching a two-month high of $97,924 a week ago.

However, the crypto market has experienced significant volatility over the past few days, fueled by renewed geopolitical tensions. As a result, BTC has retraced 10% in the past week, falling to the mid-zone of its $84,000-$94,000 range.

Amid this performance, trader Wealthmanager noted that the flagship crypto had retraced all its 2026 gains, briefly falling below its yearly opening and POC. He added that this is a critical level to hold in the coming days, as losing this area could send the price back to the $80,000 mark.

Analyst Crypto Jelle highlighted a two-month bear flag structure on BTC’s daily chart, suggesting a high chance of a breakdown. “Lose the current lows again, and bears will be fully back in the driver’s seat,” he asserted.

Similarly, Market observer Lyvo Crypto pointed out the same formation, detailing that Bitcoin broke down from the pattern’s ascending support after the recent price action and lost its two-month uptrend.

To the trader, this signals that “momentum is fully in the bears’ control” and “if it [bearish momentum] sustains, we could see a free fall” that could likely result in a retest of the $78,000 area.

In the case of a breakdown to the November lows, he advised that “from there, we’ll wait for confirmation of a double bottom and look for a relief rally.”

BTC To Repeat Its 2020 Price Action?

Crypto Bullet drew a parallel between BTC’s current price action and its performance in early 2022. The analyst affirmed that the current price action closely mirrors its 2022 fractal, which could signal that a major correction is ahead.

At the time, Bitcoin retraced over 40% from its late 2021 cycle top, followed by a “dead cat bounce” at the start of 2022 and a second major correction toward new lows.

Now, the flagship crypto displays a similar performance as it has retraced 30% from the October highs and is currently attempting to reclaim the lost ground. However, Crypto Bullet noted that there are two significant differences from its 2022 correction.

First, Bitcoin has yet to retest the 50-week and 200-week Moving Averages (MAs). Second, the timing hints that the final breakdown is not due until later in Q1.

“If we match the 2022 fractal’s top and the October 2025 top, we’ll see there’s still about 1 month of PA to make that final leg up and test the 50-Week MA or the 200-Day MA,” he explained.

He concluded that one more pump above the $100,000 is likely, but advised caution as the key supports are being tested.

As of this writing, Bitcoin is trading at $89,890, a 1.2% increase in the daily timeframe.

As the Ethereum (ETH) price retests a crucial support zone, BitMine revealed it has added another $110 million worth of ETH to its treasury holdings over the past week, approaching an important milestone for the company’s investment strategy.

BitMine’s Ethereum Bet Continues

On Tuesday, BitMine, a Bitcoin and Ethereum Network Company with a focus on accumulating crypto for long-term investment, announced its holdings had reached 4.2 million ETH tokens after acquiring 35,268 ETH, worth roughly $110 million, in the past week.

As a result, the company, which is the largest Ethereum Treasury company in the world and the second-largest global treasury, has crypto and cash holdings totaling $14.5 billion at current prices.

According to the announcement, the company now owns 4,203,036 ETH at $3,211, 193 Bitcoin (BTC), a $22 million stake in Eightco Holdings as part of its “Moonshots” initiative, and unencumbered cash worth $979 million.

After the latest purchase, BitMine now holds 3.48% of ETH’s total supply, and nears its goal to control 5% of the leading altcoin’s 120.7 million supply. Notably, it has achieved nearly 70% if “Alchemy of 5%” target in just six months.

BitMine’s chairman, Thomas “Tom” Lee, stated that “Ethereum’s price ratio to Bitcoin, or ETHBTC, has been steadily climbing since mid-October. In our view, this reflects investors recognizing tokenization and other use cases being developed by Wall Street are being built on Ethereum.”

As of January 19, 2026, BitMine’s total staked ETH stands at 1,838,003, worth $5.9 billion at $3,211 per ETH, an increase of 581,920 ETH in the past week.

ETH Price At Crucial Support Zone

Despite BitMine’s constant bet on the cryptocurrency, Ethereum retraced nearly all its 2026 gains after falling below the $3,000 barrier. On Tuesday, ETH recorded a 6.8% decline in the daily timeframe, dropping from the $3,200 area to a three-week low of $2,980.

The King of altcoins has been trading between the $2,600-$3,350 area since the November pullbacks, reclaiming the upper zone of this range during the start of the year rally. Now, ETH is retesting an important multi-support area that could define the cryptocurrency’s short-term performance.

Analyst World of Charts affirmed that there are two “simple” possibilities for Ethereum. If the price loses the $3,000 area, which serves as the mid-zone of its local range and a key macro support and resistance level, then a retest of the $2,600 lows becomes likely.

On the contrary, if the altcoin holds this zone in the daily timeframe and momentum builds, it could retest the range’s upper boundary resistance again.

Amid the pullback, another pseudonym market observer also pointed out that ETH is currently retesting its 50-day Moving Average (MA), which was reclaimed at the start of the year and currently sits at the $3,089 level.

According to the post, if the 50-day MA holds, a move to the 200-day MA, located around the $3,650 area, could come next. “All eyes [are] on a close above the 50-day MA, which will point to a successful back test,” he added.

As of this writing, ETH is trading at $2,999, a 7% decline in the weekly timeframe.

A year after reaching its all-time high (ATH), Solana (SOL) is trading 54.3% below its $293 2025 milestone, attempting to hold a crucial zone as support. Some analysts warned that the altcoin could risk a deeper correction if the price fails to recover the recently lost ground.

Solana Breaks Below Key Support

On Sunday, Solana recorded an 8% pullback and hit a two-week low of $130. Since losing the $200 phycological barrier in late October, the cryptocurrency has struggled to hold bullish momentum, hovering between the $115-$145 levels over the past three months.

The start-of-the-year rally saw SOL break out of its multi-month downtrend, reclaim the upper zone of its local range, and briefly breach above the key $145 resistance last week. However, Sunday’s market pullback has sent Solana back below key areas.

Amid this performance, market observer BitGuru affirmed in an X analysis that the cryptocurrency “just swept liquidity into a strong demand zone after a clean structure breakdown.”

He explained that the price is attempting to rebound from its local support area, which could trigger a “sharp relief move toward previous highs” if the price can hold the current levels.

Meanwhile, analyst Man of Bitcoin noted that the altcoin’s price broke below its two-week ascending trendline, which had been supporting its 17% surge from its yearly opening. Moreover, it also dropped below the $136 mark, where the price had consistently bounced after the recent breakout.

The market observer pointed out that Solana’s short-term support sits between the $129-$136 area, adding that a breach and sustained breakdown from this area would spell trouble for the cryptocurrency.

According to the chart, if selling pressure persists and Solana fails to reclaim the recently lost ground, the price could see a scenario where it retraces deeper and potentially falls up to 25% to challenge the $100 area.

Analysts Warn Of Head And Shoulder Pattern

Other market watchers highlighted a macro pattern on Solana’s chart, suggesting that a breakdown to new lows could be coming. Notably, the altcoin displays a two-year Head and Shoulders formation in the weekly timeframe.

According to the chart, this bearish pattern has been forming since 2024, with the left shoulder developing during the Q1-Q2 2024 rally and the neckline sitting around the $120 area.

Meanwhile, the pattern’s head formed during its late 2024 and early 2025 bullish run, which led to its ATH of $293 a year ago. Lastly, the right shoulder developed after the Q3 2025 rally and Q4 correction.

Based on this performance, trader Slashology affirmed that Solana is “really looking bad here,” warning that investors should “prepare for the worst” as the price trades near the pattern’s neckline.

He forecasted that a breakdown from this key level could lead to a 35%-40% “bloodbath” toward the $75-$80 levels. On the contrary, market observer Crypto Curb suggested a different outcome could be possible.

In an X post, he compared SOL’s recent performance to the S&P 500 (SPX) price action between 2009 and 2011. Per the post, SPX displayed the same pattern as Solana, but ultimately invalidated the pattern after bouncing from the neckline and breaking above the right shoulder’s peak, eventually reaching new highs.

To the analyst, the altcoin could display a similar performance if it rebounds from the current levels and starts to climb higher.

As of this writing, Solana is trading at $134, a 5.6% decline in the daily timeframe.

While XRP retests a crucial support area, some analysts have suggested that the altcoin is preparing for a massive expansion in the coming months, as a potential trend reversal begins to form and its 2017 formula repeats.

XRP Gears Up For Massive Expansion

On Friday, XRP reached a 12-day low, falling to the $2.02 area before bouncing. Notably, the cryptocurrency has been trading within the $2.05-$2.35 area for nearly two weeks, moving between the mid and lower zones of this price range for most of this period.

Amid its recent performance, Sjuul from AltCryptoGems noted that the altcoin “is starting to look better, especially after that bullish market structure break with a fresh higher high.” The analyst highlighted that the cryptocurrency has been consistently trending lower since August, exclusively printing lower lows and lower highs.

However, it has broken out of this structure and recorded a higher high for the first time in months after the start-of-the-year rally, setting the stage for a potential reversal. “Now, we have to maintain this bullish structure at any cost and form a higher low on the next dip,” Sjuul warned.

Meanwhile, market observer ChartNerd pointed to a striking similarity between XRP’s 2017 playbook and its current performance. In an X post, the analyst affirmed that the altcoin is repeating its 2016-2017 formula, which led to a massive rally toward its previous all-time high (ATH).

At the time, XRP saw a textbook multi-year symmetrical triangle formation breakout, followed by a multi-month ABC consolidation before its 1,500% mark-up. This time, the cryptocurrency has repeated a similar symmetrical triangle pattern breakout, and it is currently in Wave C of its ABC consolidation period.

To the analyst, a deeper Wave C retracement is possible if the multi-month $1.80 support is lost. Nonetheless, he added that “cycle formula repetition signals XRP is gearing up for expansion towards $8/$13/$27,” which would be a 300%-1,250% increase from the current levels.

Q1 Close To Define XRP’s Future

Despite his bullish forecast, ChartNerd also shared an important warning for the next two months. According to the analyst, “XRP has just over 2 months to invalidate this 3M bearish Heikin-Ashi candle formation,” or it will risk a massive correction.

In a video analysis, he explained that, in the past, whenever the altcoin saw massive rallies followed by a red bearish candle on the three-month timeframe, it would “normally indicate the start of a downtrend or a macro consolidation period.”

In 2014, XRP saw a bearish candle print in the three-month timeframe after a remarkable pump, which was followed by a correction and consolidation “for quite a couple of years,” he explained.

“The same happened again in 2018. We had this massive rally for XRP, and as soon as we printed a three-month bearish candle in the Heikin-Ashi Candle formation, (…) we entered into the bear market,” ChartNerd continued.

Similarly, the cryptocurrency repeated the same performance in 2021. Now, XRP is starting to form a red candle in this timeframe and has approximately 2 months and 16 days to close the quarter on a positive note.

“We have until March before this candle closes. (…) So, what we don’t want to see is this full-bodied three-month Heikin-Ashi Candle, because if we see it, this is where we are likely to see a deeper correction for the next six to nine and even 12 months,” the analyst concluded.

As of this writing, XRP is trading at $2.05, a 1.7% decline in the weekly timeframe.

After its recent price breakout, Ethereum (ETH) is facing its next big test and attempting to turn a crucial area into support. Some analysts have suggested that the altcoin is ready to continue its bullish momentum, arguing that the biggest rotation in years is coming.

Ethereum Challenges Key Resistance Area

On Wednesday, Ethereum broke past a crucial area and retested the $3,400 level for the first time in over a month. The king of altcoins has seen a 6% increase in the daily timeframe, jumping from the $3,100 level to the current levels.

Notably, ETH has been hovering between the $3,000-$3,300 area since the start of the year rally, but failed to break the local range’s upper boundary during last week’s attempt. Now, the cryptocurrency has daily closed above this barrier and is testing this area as support.

Amid this performance, analyst Michaël van de Poppe affirmed that “it’s ETH season” as the leading altcoin has held above the 21-day Moving Average (MA) since January 1. He explained that this level, officially lost during the early Q4 2025 corrections, is crucial for the price to hold onto to strengthen the momentum.

To the market observer, Ethereum is “ready to make new highs and continue the uptrend,” and based on this structure, his main scenario is that the cryptocurrency will likely retest the $3,800 area soon.

Meanwhile, Daan Crypto Trades pointed out that ETH is currently facing a “big test.” The trader noted that the altcoin has been moving within its $2,600-$3,300 price range over the past two months, adding that a breakout from this range is necessary to define the direction of its next move.

Per the chart, Ethereum must reclaim the $3,350 level, where the 200-day exponential moving average (EMA) is located. This indicator has served as a key rejection area since November, and breaking above it “should lead to a move higher to catch the Daily 200MA next,” currently located around the $3,600 area.

ETH To Follow Its 2018 Playbook?

Crypto Jelle also shared an optimistic outlook for the cryptocurrency, asserting that Ethereum “looks better than it has looked in years” against both Bitcoin (BTC) and the US Dollar.

He argued that both charts are poised to move higher since ETH’s downtrend against BTC is over, and its USD chart looks ready to push towards the $4,000 barrier again. He added that the ETH/BTC anticipated rally means “ETHUSD could see price move a lot higher over the coming months.”

Similarly, Alex Wacy recently explained that the “biggest ETH rotation in 8 years [is] forming right now.” The analyst highlighted that the king of altcoins is repeating the same playbook that led to its 2018 breakout against BTC, but with “bigger players” and “more capital entering.”

According to the chart, ETH saw a multi-year accumulation against Bitcoin between 2015 and 2017, leading to its massive expansion in 2018. After an initial breakout, the cryptocurrency re-accumulated for an extended period inside a falling wedge pattern, which resulted in a 50x pump from this structure.

This time, Ethereum’s trading pair against BTC moved within a multi-year falling wedge pattern again, which was broken out of in Q4 2025. If history repeats itself, the altcoin could see a new massive surge against the flagship crypto over the coming months.

As of this writing, Ethereum is trading at $3,375, a 5% increase in the weekly timeframe.

As Bitcoin (BTC) breaks out of key resistance levels, an analyst suggests that the cryptocurrency is positioning itself for a move to higher levels and a retest of a crucial technical area in the coming weeks.

Bitcoin Approaching Make-Or-Break Test

On Tuesday, Bitcoin surged 2.5% to retest the $93,500 resistance level for the first time in a week. The cryptocurrency has been hovering between the $84,000 to $93,500 price range for three months and has failed to turn this level into support multiple times.

Analyst Rekt Capital recently noted that the flagship crypto is near a “historic” test as it has begun to form “another technically decisive region” just above current price levels.

The market watcher explained that BTC is approaching its dynamic Bull Market Exponential Moving Average (EMA) cluster, where the 50-week EMA and 21-week EMA are getting closer.

This key cluster, currently located between the $96,000 and $97,500 levels, has historically been tested before a “meaningful crossover,” with the Bitcoin price overextending beyond the cluster.

However, this has usually been followed by an unsuccessful confirmation of this region as support. “When that happens, the crossover itself often follows the bearish price event, rather than causing it, with the EMA cluster flipping into resistance from the underside and leading to downside continuation,” the analyst detailed.

Notably, past cycles reveal that the 50-week and 21-week EMAs can move very close together, Rekt Capital wrote, emphasizing that they can even overlap for prolonged periods before a decisive crossover.

Currently, Bitcoin has yet to retest and overextend beyond the two EMAs, but its historical performance suggests that it will likely occur. Moreover, BTC’s price is “positioning itself in a way that could allow for a springboard higher, potentially enabling a test of this cluster in the weeks ahead. The key question is timing.”

BTC Price Breaks Out Of Key Resistances

In his analysis, the market observer discussed BTC’s recent performance, which has seen a structural change despite the sideways price action. Last week, the cryptocurrency’s price closed above its multi-week downtrend, which has been serving as a major resistance point since late November.

This marks “a small but notable technical milestone” as Bitcoin now holds above the November and December highs in the weekly timeframe, treating the previous resistance as support.

In addition, the mid-zone of its local range, around the $90,500 level, is now “almost perfectly confluent with the former Downtrend, meaning the Downtrend that last week rejected price is beginning to act as layered support instead.”

Therefore, if Bitcoin continues to hold the mid-range region, the price should be able to challenge higher levels and find a path toward $100,000. Rekt Capital added that, unlike previous retests, the most recent rejection from the crucial $93,500 resistance was significantly shallower and shorter, suggesting that it was getting weaker.

Now, the flagship crypto has successfully retested the downtrend breakout area as support and momentarily reclaimed the $93,500 resistance, surging above the $94,000 area once again.

Ultimately, BTC will need to hold this area and close the week above $93,500 to “kickstart a breakout from the Weekly Range as per previous green circles,” the analyst concluded.

As of this writing, BTC trades at $94,334, a 2.6% increase in the weekly timeframe.

Monero (XMR) is leading the crypto market bounce by breaking out of a macro resistance level and breaching above the $600 barrier for the first time. A legendary trader has suggested that the cryptocurrency is mirroring silver’s historical breakout and could see a massive price discovery rally.

Monero Soars To New Highs

On Monday, Monero outperformed the rest of the market, surging nearly 21% toward its new all-time high of $611.01. The privacy-focused cryptocurrency has been leading the start-of-year market rally, experiencing a 43% increase over the past seven days.

XMR’s rally has been fueled by renewed interest in privacy tokens and redirected liquidity toward the project, which has driven its market capitalization to $10 billion for the first time.

Amid this performance, veteran trader Peter Brandt drew a parallel between Monero and Silver’s long-term charts, suggesting that the cryptocurrency could be near a massive breakout.

In an X post, Brandt compared Monero’s current rally to silver’s historical breakout, which led to a massive run toward new highs. Silver saw a multi-decade price setup in which its price accumulated below and retested a macro ascending resistance trendline.

According to the chart, its price formed its long-term resistance during its 2011 peak, when it reached a slightly higher ATH of $49.83 before correcting. During its Q4 2025 rally, silver finally broke above this key level, nearly doubling its price toward its latest ATH of $86.23.

Similarly, Monero has been forming its multi-year ascending trendline in the monthly timeframe since its 2017 high. In 2021, the cryptocurrency retested this area, also hitting a slightly higher ATH before retracing.

Now, XMR has broken out of its ascending resistance and could see a similar path to silver’s recent breakout into price discovery, the post suggested.

XMR to See 50% Breakout Or Breakdown Next?

Market observer TraderSZ recently shared an optimistic outlook for Monero once it broke through its crucial resistance area and turned this level into support. To the trader, the cryptocurrency could reach three main price targets if momentum continues.

Per the post, the initial breakout level could reach the $685 area, a more than 30% rally from the resistance level. Moreover, it could surge between 50% and 80% toward the $790 and $900 levels, like silver’s recent price discovery progression in the monthly chart.

Analyst 0xMarioNawfal also highlighted XMR’s performance as “price continues to trend aggressively higher, breaking through previous resistance levels with strong momentum and minimal pullback.”

To him, the structure remains bullish, with buyers stepping in and “no clear signs of distribution yet.” As a result, he forecasted potential volatility but added that as long as the price holds above recent breakout levels, the trend will remain intact.

Nonetheless, Ali Martinez posted a more concerning forecast for the cryptocurrency, suggesting that a significant correction may be around the corner. According to the chart, Monero has been forming a multi-year rising wedge pattern since 2017, with the price bouncing between the upper and lower boundaries.

Based on this, XMR could likely fail to turn the macro resistance into support and begin a long-term 50% decline toward the $300 area, where the pattern’s lower boundary is currently located.

As of this writing, Monero is trading at $597, a 47.5% increase in the monthly timeframe.