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Monero Price Forecast: XMR rally to $400 shows signs of potential short squeeze
Monero (XMR) extends the gains to $400 on Wednesday, recording a 10% rise so far this week. Still, the derivatives market lacks confidence in XMR’s rally, leading to a bearish positional buildup that anticipates a collapse. On the technical side, the privacy coin is targeting a resistance trendline to break out of a symmetrical triangle and extend the rally. XMR derivatives: Short squeeze or another bull trap? CoinGlass’s data shows a nearly 5% rise in XMR futures Open Interest (OI), to $56.24 million in the last 24 hours, indicating a positional buildup across both long and short positions. Such buildups are ... (full story)
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