$XMR USDT (Perp) – Short Setup Analysis

Market Context

XMR has printed a strong impulsive rally (+13% intraday) and is now reacting from the upper supply zone near the recent high. Price is showing signs of exhaustion after rejection from resistance, increasing the probability of a corrective move.

📉 Trade Bias: SHORT

Entry Zone:

660 – 690 USDT (sell on pullback / rejection confirmation)

Targets:

TP1: 606 USDT

TP2: 560 USDT

TP3: 513 USDT

Stop Loss:

Above 705 USDT (clean invalidation above resistance)

Technical Confluence:

Rejection from major resistance (688–700 zone)

Extended move from the last demand → mean reversion likely

Bearish reaction after high-volume push