Oh, Monero, you sly crypto fox! You’ve been moonwalking like Michael Jackson this month, up 57% in three months and 17% in January alone. But now, you’re tripping over your own digital feet! Since hitting $799, you’ve stumbled 36% in just seven days. Ouch, that’s gotta hurt more than a Mel Brooks punchline gone wrong!
And guess what? This isn’t just a solo act. A bearish chart pattern is forming, and February-that historically grumpy month for Monero-is lurking around the corner. So, is this just a crypto nap, or are we in for a full-blown sell-off spectacle?
Bearish Wedge: The Plot Thickens Like a Bowl of Borscht
Monero’s currently trapped in a rising wedge-a pattern so bearish, it makes a grumpy bear look like a teddy. Prices are making higher highs, but the trend’s narrowing faster than my patience at a DMV. When this breaks, it’s like a pie in the face-sharp and messy. The measured move? A 44% downside risk if the bottom falls out. Yikes!
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And here’s the kicker: this setup lines up perfectly with Monero’s February curse. Since 2023, February’s been to Monero what a villain is to a Brooks movie-pure chaos. Across three Februarys, Monero’s dropped 8-16% on average, often after a strong January. Déjà vu, anyone?
So, here we are again: strong January, weak February, and a wedge pointing south. History and structure are teaming up like Brooks and Wilder-and it’s not looking good for Monero.
Momentum? More Like a Slow-Motion Blooper Reel
Momentum’s abandoned Monero faster than a Brooks character abandons a bad joke. From November 9 to January 19, the price hit a higher high, but the RSI (Relative Strength Index) formed a lower high. That’s bearish divergence, folks-the crypto equivalent of a whoopee cushion in a board meeting.
And Monero’s slipped below the 20-day EMA (Exponential Moving Average). That’s like losing your balance on a unicycle-buyers are losing control. Next stop? The 50-day EMA, sitting near the wedge’s lower boundary. If that breaks, it’s game over, man!
Capital flow data? It’s screaming “sell!” The Chaikin Money Flow (CMF) is below zero, meaning money’s leaving Monero faster than an audience after a bad stand-up set. If it breaks below its trendline, it’s confirmed-the crypto party’s over.
In short: momentum’s fading, trend support’s cracking, and capital’s fleeing. Unless Monero pulls a miracle, it’s looking like a red February-and not the romantic kind.
Monero’s Price Levels: Will It Bounce or Crash Like a Bad Joke?
The bearish scenario kicks in if Monero loses $479 on a daily close. That’s just 10% away from the wedge’s lower boundary. Break that, and we’re headed to $360, then $318-a 44% plunge. Oof, that’s rougher than a Brooks parody.
But there’s a bullish twist! If Monero reclaims the 20-day EMA and holds above $591, it could invalidate the bearish divergence. Remember January 6? A reclaim triggered an 84% rally. So, there’s hope-but it’s as thin as a Brooks plotline.
Until then, Monero’s on thin ice. January’s strength is fading, and February’s curse is looming. The next 6-10% move will decide if this is a crypto comedy or a full-blown tragedy. Stay tuned, folks-this is better than a Brooks marathon!
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2026-01-22 13:11