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Monero drops 6%, nears key support that could trigger rebound or deeper fall

Technical Signals
02 Jun 2026
AMBCrypto
View Source
Bearish
pluang ai news

Monero (XMR) fell 6% to $344, approaching a critical support level that may decide its short-term direction. If it holds above $340, XMR could rebound toward $4380-$4400, offering about 15% upside. However, a break below this support might lead to a significant drop to around $217, mirroring past bear market patterns. The privacy coin's future depends on Bitcoin's trend and the strength of the privacy narrative, making current levels a potential buying opportunity for long-term investors or a short-selling chance if support fails.

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