Chart Technical Analysis $MONERO - Timeframe: 1D (Daily) - Trend: Strong bullish move followed by recent sharp pullback; currently bouncing but volatile. - Support & Resistance: - Resistance: Around $750 (recent high) - Support: $600–$620 (recent low and local support from the pullback) - Price Action: - Large green candles marked the breakout phase, followed by a tall upper shadow and red candles (signaling strong selling pressure at recent highs) - Pullback candle with a wick suggests buyers are attempting to defend support - Volume: Major volume spike during the breakout and initial selloff, declining in follow-through—shows potential exhaustion at the top. - MACD: Bullish, but histogram is decreasing after an extreme peak, signaling momentum is fading. - RSI: Peaked above 80 (overbought) and now cooling toward mid-60s; still elevated—watch for further retracement if it drops below 60. Suggestion: - Avoid chasing after the recent parabolic move—wait for consolidation or a retest of the $600–$620 zone. - If price holds above this support and volume stabilizes, look for bullish setups; failure to hold may trigger further downside toward the $500–$550 level. - Current environment favors "wait and see" over immediate entries.