Monero’s price remains under pressure after breaking below a bearish flag formation, putting a potential decline towards $135 back into focus.
After plunging more than 60% from its January peak, XMR briefly stabilised near $276 on February 6, but the recent slip below the flag’s lower boundary signals renewed downside risk.
Momentum indicators show limited dip-buying strength, with the Money Flow Index trending upward but failing to confirm a decisive reversal as buyers struggle to reclaim control.
Exchange data recorded roughly $372,000 in net outflows on February 12, typically a sign of accumulation, yet this has not translated into sustained upward momentum.
Social dominance has ticked higher in recent sessions, but positive sentiment has collapsed by around 74% since February 9, suggesting increased discussion is being driven more by concern than optimism.
Technically, the $361 level now stands as critical resistance, with a sustained move above that zone required to delay or invalidate the bearish structure.
If support at $308 and then $276 fails to hold, the measured move from the bear flag pattern projects a potential decline toward $135, marking the next significant historical support region.
At the time of reporting, Monero price was $334.48.