Monero (XMR) exhibits a clear bearish pattern, with trading volume continuously increasing during the decline, and the price has broken through multiple key support levels. From a technical perspective, the RSI has entered the oversold zone, which usually indicates a potential short-term rebound; however, the MACD remains weak, suggesting that the downward momentum is still present. Recently, traders are paying attention to the important resistance level of $530 — if the rebound can break through this point, it may alleviate the ongoing downtrend. The question is whether this rebound is a genuine bottom confirmation or just a technical pause during the decline. It is still too early to draw a conclusion.