OKX Exchange Delists Monero (XMR) Pairs, Signaling a Bearish Trend Ahead

OKX Exchange delists Monero (XMR) pairs, signaling a bearish trend ahead. According to OKX, on January 5, 2024, the OKX exchange will eliminate 11 trading pairs, citing the need to uphold a robust spot trading environment. The users’ feedback partly influenced this decision. As one of the world’s largest cryptocurrency exchanges, OKX handles a daily crypto volume exceeding $3 billion.

CRYPTO BREAKING NEWS
Monero (XMR) Price Drops 6% In 24 Hours As OKX Delists 20 Trading Pairs. The price of Monero (XMR) has dropped by 6% in the last 24 hours. The coin’s funding rates have turned negative for the first time in two months f… check us out @… pic.twitter.com/9RWxuY0Abm

— InnovatekMobile (@Neome_com) December 31, 2023

Notably, Monero (XMR), currently priced at $164.46, faces bearish tendencies with a recent 6% decline. Coinstats data ranks XMR as the third-highest asset in terms of losses over the last 24 hours. This move by OKX may signal a shift in sentiment, amplifying concerns about the future trajectory of Monero’s value.

Key XMR Levels To Watch – January 1

Until the recent CHoCH (Change of Character) to the downside, XMRUSD was bullish. The uptrend began after a rebound at the rising trendline.

A retracement into the premium is ongoing as per the Stochastic Oscillator. However, the market’s overall trend is set to turn bearish, according to the MA Cross. The emerging bearish trend is likely to continue until the trendline is hit.

Monero Key Levels

Resistance Levels: $175.5130, $180.7510, $187.4960
Support Levels: $157.3910, $135.7080, $116.1380

Market Metrics

Total Market Capitalization: $1.62T
Monero Market Capitalization: $3.0B
Monero Volume: 120M
Market Rank: #31

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