Monero (XMR) dropped further on March 24, 2026, extending its losses as selling pressure intensified following repeated rejection near key resistance levels.
The continued decline highlights weakening market sentiment despite increased trader participation. XMR is trading at $352.94, with a 24-hour trading volume rising 37.22% to $109.76 million, according to CoinMarketCap data.
Despite this surge in activity, the asset has posted a daily decline of 1.93% and a weekly loss of 5.71%, signaling sustained bearish momentum across the market.
Also Read: Monero (XMR) Struggles to Reclaim $400 as Downtrend Strengthens
Key Levels Keep Market Direction Uncertain
The chart shows a clear bearish trend after a strong upward move, followed by a sharp sell-off. Price is now consolidating within a defined range, indicating indecision.
Sellers still dominate, forming lower highs, suggesting weakness. Bearish targets below support include $280, $260, and potentially $240 levels.
The levels to watch are the resistance at $380 and the support at $300. The price is consistently hitting the $380 barrier and reversing, which is indicative of strong selling pressure.
The levels around $350 are a major point at which decisions are made. If the price surges past $380 on a bullish move, it targets $420, $480, $500, and possibly $530, as per the crypto analyst Crypto Tony.
The probable route ahead appears to be a continuation to the downside, as prices struggle to break through resistance and aim to sink below $300 to further extend the decline.
However, if prices convincingly break through $380 with significant trading volume, the direction may reverse. Until such time, range trading appears to be the best approach.
Indicators Signal Weak Recovery Attempt
From a technical perspective, the RSI is at 49.98 levels, and the price is near the neutral momentum zone at 50.71. The price is also not overbought or oversold, which reflects indecision in the markets.
The recent move reflects a gentle bullish move; however, the lack of strong buying power at levels above 60 reflects weak buying pressure.
The MACD is at 0.74, with the signal line at -0.40 and the histogram at -1.14. This indicates that there has been an attempt at a bullish crossover.
However, the momentum is still low. As the histogram makes its way to zero, selling pressure appears to be dissipating, suggesting that a bullish run is on the horizon.
Why This Matters
A break decisively below $300 may accelerate the selling, which would increase the downside risk and identify where support is in the marketplace.
Without the $380 level, the bearish trend is in control, which would cap any upside momentum and continue to place pressure on prices.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Monero (XMR) Holds Above $345: Is a Rally Toward $800 on the Horizon?
