XMR recently followed the trend of DASH and ZEN hype, soaring to a high of 800, then began a long downward journey. It has already fallen more than 200 points, and retail investors and longs have basically been wiped out. To be honest, few people can withstand the volatility of hundreds of points, especially those with small capital.

From the current K-line chart, the price is fluctuating repeatedly in the 560-650 range. It’s very difficult to push back to new highs. However, this actually gives us an opportunity — we can enter a long position with a small amount at this level, and take profit when it rebounds to around 650-700. Just capturing the swing is enough. Based on technical analysis, there should be a small upward wave next, but the magnitude won’t be too large.

$BTC remains the market indicator; the performance of various digital assets still depends on Bitcoin’s direction. This wave of market movement is essentially testing the bottom support. Be patient and wait for a breakout signal.