Monero (XMR) recently reached a 34-month high, but has since entered a consolidation phase. The market is currently in flux as investors and traders weigh their next moves. The Relative Strength Index (RSI) corrected to a neutral level, indicating a balance in the market. There is an ascending triangle pattern on the daily price chart, suggesting a bullish scenario. Monero currently trades at $221.34 with a modest increase and stable supply. If the price breaks above $227, it could signal another bullish phase. However, caution is needed as there is a potential for false breakouts or breakdowns. The overall market context and regulatory news will play a significant role in determining Monero's price direction.



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