Monero Price Analysis: XMR retraces to $280, what next for the bears?

TL;DR Breakdown The daily Monero price analysis is suggesting bearish sentiments on the 24-hour chartThe daily range is an  intraday low of $280 to an intraday high of $287Our MACD histogram is indicating short red bars on the 1-hour chart The daily Monero price analysis is suggesting bearish sentiments on the 24-hour chart after the bulls were unable to sustain prices above the $285 support. As a result, the price gradually slid from the $290 region into the $280 mark. We are expecting the downtrend to continue during the day with a first bear target of $278, whereby buyers can consolidate sufficient strength to face any future rejection on the upside.   Cryptocurrencies in the overall market are trading with mixed results whereby BTC has lost 0.18 percent to hold support at $46.5K. Ethereum on the other hand gained more than 6 percent on the 24-hour clock, Solana lost 3.49 percent to become the worst performer. While DOT gained 15 percent and breached the $29 resistance. Monero price analysis in the last 24 hours: XMR/USD struggles to beat $316 resistance The daily Monero price analysis indicates that XMR/USD pair performed within a tight daily range cutting across an intraday low of $280 to an intraday high of $287. The range suggests dropping volatility, which might be attributed to the 11 percent drop in daily trading volume to a total of $204 million. Meanwhile, the last 24 hours have witnessed a 0.31 per...