Short-term structure
Clear sequence of lower highs and lower lows ā trend firmly tilted to the downside
Trendline acting as resistance
Price repeatedly rejected along the descending trendline ā sellers defending structure
Rejection at key levels
~$380ā$386 zone continues to cap price ā no successful break or close above
Failed attempts to shift structure
Multiple pushes into resistance failing ā no change of character yet
Pressure into lows
Recent low ~$372 being revisited ā sellers still active on moves down
Momentum behaviour
StochRSI choppy, no sustained strength ā rallies lack follow-through
What matters now
Break and hold above ~$380 = potential shift
Continued rejection = trend continuation lower
In Summary
Monero remains in a short-term downtrend, with price continuing to form lower highs and lower lows. The descending trendline and resistance zone between $380 and $386 are consistently rejecting rallies, preventing any shift in structure. Multiple attempts to break higher have failed, keeping sellers in control. Price is also revisiting recent lows, showing continued downside pressure. Until resistance is broken and held above, the current trend is likely to persist.