🚨 $XMR : Hitting Resistance - Top-Fishing Short Setup? 📉

Plan trade: Short 🔴

Entry Zone: $395 - $398

Take Profit:

🎯 TP1: $381

🎯 TP2: $373

Stop Loss: $403

🔥 Technical Analysis:

On H4 and H1 timeframes,$XMR is recovering strongly but facing stiff resistance near the previous high and EMA confluence around $399 - $400. The current H1 candle is forming a long upper wick, indicating emerging selling pressure. RSI has reached overbought levels and is stalling. The price is extended from the EMA(25), creating pressure for a correction to lower equilibrium levels to retest demand at $380.

⚠️ Stop Loss Rationale:

The $403 level sits just above the psychological resistance of $400. If the price breaks this level, the uptrend will be confirmed, targeting new highs.

XMRUSDT

Perp

399.15

+3.48%