Binance partially rejects Monero withdrawals, users claim

Multiple investors face problems making withdrawals in their Monero (XMR) wallet in Binance, prompting a public outcry on Reddit.  XMR withdraws worries An agitated customer, identified as WhatJay, posted a screenshot showing XMR withdrawal suspension.

Timeline of Monero

It was a red week for the S&P 500 which fell 6.4% from Tuesday's (13 December) open at 4092 to a low of 3829 on Friday (16 December). This began to hurt Bitcoin on Wednesday (14 December) when BTC tested the $18.2k level as resistance.

XMR endured the market collapse, putting up an impressive performance in the last thirty days Traders' interest was unusually high with a possibility of sustenance At a time where a bunch of crypto projects have been struggling for survival, Monero [XMR] seemed to have found stability.

 Monero recorded decreases in its social volume and dominance, leading to a shrink in trading volume The decline, however, did not stop XMR from showing signs of leaving the bearish zone Privacy-focused cryptocurrency Monero [XMR] faced investor concern recently as its social metrics decreased.

Unus sed leo was a notable gainer on Thursday, as the token surged towards a one-week high. The move comes as crypto markets seem to have settled, a week on from the turbulence caused by the FTX collapse. Monero also rallied, climbing above the $130 level.

Monero [XMR] could be seen on a strong bearish retracement this week after previously delivering a strong upside. The retracement was the perfect opportunity for short sellers to take advantage of and make some profits.

Monero (XMR), an open-source, privacy-oriented cryptocurrency launched in 2014, managed to reach the $151 marker on November 2 as it briefly rallied before it experienced slight price correction. Here's a quick glance at XMR trajectory: Over the last two months, Monero traded at a narrow range that peaked at $152 Surpassing the crucial $156 marker will enable XMR to climb all the way to $172 Failure in increasing trading volume will most likely pull the crypto down to $148 At the time of this writing, according to tracking from Coingecko, the altcoin is changing hands at $149.10, going down by almost 1% over the last 24 hours.

Monero [XMR] just concluded October with a bullish performance that pushed it back to its 4-week support level. Unfortunately for buyers, the upside might not last so long, especially considering the bearish signals Monero is currently flashing.

Monero [XMR] bulls managed to achieve a 9% upside in the last seven days. However, this is a relatively low upside compared to the gains that some top coins garnered during the same time.

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 The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. A divergence between OBV and price suggests a bullish reversal Price action remained bearish on higher timeframes Monero [XMR] has been on a higher timeframe downtrend since late April.