XMRUSDT: short setup from daily support at 353.53

4 days ago

XMRUSDT.P is respecting the 353.53 level very well. Yesterday we saw two bounces, with the correction getting smaller each time. Throughout today, we've seen consolidation above the level with a gradual drift lower. This is a good signal: it suggests the seller is confidently and calmly moving the price in their direction, absorbing the buyers' limit orders along the way. If this type of price action continues right up to the level — that’s ideal. If volatility spikes, it spoils the picture a bit, and we’ll have to watch how the price behaves after the volatility settles.

Key factors for this scenario:

• Volatility contraction on approach
  
• Momentum stall at the level
  
• Immediate retest
  
• Repeated precise tests of the level
  
• Consolidation with price compression
  
• Closing near the level
  
• Closing near the bar's extreme
  

Factors that contradict this scenario:

• Heavy congestion zone ahead
  

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4 days ago

Trade closed: target reached