
- Monero price stabilizes after retesting and bouncing from its ascending trendline, eyeing a recovery ahead.
- Coinglass data shows that the XMR long-to-short ratio reaches the highest level in over a month, indicating more traders are betting Monero’s price to rise.
- A daily candlestick close below $195.72 would invalidate the bullish thesis.
Despite the recent market correction this week, Monero’s (XMR) price stabilizes above $220 at the time of writing on Wednesday after retesting its ascending trendline and finding support around $195 on Monday. Coinglass data shows that the XMR long-to-short ratio reaches the highest level in over a
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