Market Signal: Short Liquidation Activity
XMR recorded a short liquidation of $3.01K at $641.65, suggesting that short positions faced pressure around this price. This liquidation activity could support further upward movement if buyers maintain control. The $641.65 zone is an important reference level. Initial support is around $635, followed by $625. On the upside, $650 represents the first resistance. A sustained move above this level could bring $660 into focus, followed by $675 as another potential target. However, rejection near resistance could trigger consolidation. Watch trading volume and broader market conditions for confirmation.
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