Monero price continued sliding this week after losing a major ascending trendline support, increasing the risk of a deeper correction toward the $350 region as bearish momentum strengthens.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to data from crypto.news, Monero (XMR<\/a>) price traded around $387 at press time on May 18 after slipping below the key $390 support level during the latest sell-off. The token has now retreated sharply from its recent highs near $430 reached earlier this month.<\/p>\n Despite the recent decline, Monero remains significantly above its February lows near $284 as long-term demand for privacy-focused cryptocurrencies continues supporting the broader market structure.<\/p>\n However, momentum across the privacy coin sector has recently weakened as traders began locking in profits following XMR\u2019s explosive rally earlier this quarter.<\/p>\n <\/p>\n The latest pullback also comes amid increasing global scrutiny surrounding anonymous crypto transactions and privacy-preserving blockchain infrastructure. Regulators across several jurisdictions have continued tightening reporting standards tied to digital asset transfers, creating fresh uncertainty around the sector.<\/p>\n Still, Monero continues to maintain strong market dominance among privacy-focused cryptocurrencies due to its deep liquidity, active user base, and growing demand for private peer-to-peer transactions.<\/p>\n Some analysts also believe rising concerns over blockchain surveillance and identity-linked financial systems could continue supporting long-term interest in privacy-centric assets despite short-term market volatility.<\/p>\n On the daily chart, Monero price appears to have broken below a key ascending trendline support that had supported the broader uptrend since early April.<\/p>\n The breakdown occurred after repeated rejection attempts near the $420\u2013$430 resistance zone, suggesting bullish momentum may now be fading following the recent rally phase.<\/p>\n The current setup also resembles a potential breakdown from a rising wedge structure, which is generally considered a bearish reversal pattern once support gives way.<\/p>\n Momentum indicators further support the weakening outlook. The MACD indicator recently confirmed a bearish crossover, while the histogram continues printing expanding negative momentum bars. This typically signals that sellers are gradually regaining control after a strong bullish trend.<\/p>\n Meanwhile, the RSI has cooled toward the neutral 49 region after previously approaching overbought conditions during the rally above $400. The declining RSI suggests buying pressure has weakened considerably over the past several sessions.<\/p>\n If bears maintain control below the broken trendline support, Monero could face additional downside pressure toward the key psychological support level at $350.<\/p>\n A breakdown below that region could expose XMR to a deeper correction toward the $320 support zone, where buyers previously reentered the market during the February rebound.<\/p>\n On the upside, bulls would need to reclaim the lost trendline support and push back above the $400 resistance zone to invalidate the current bearish structure. A successful recovery above that level could allow XMR to retest the key $420 resistance region once again.<\/p>\n <\/p>\n\n
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