XMR Price Bearish Retest Indicates Rejection Monero / TetherKUCOIN:XMRUSDTThe_Alchemist_Trader_Monero price action is currently trading into a major higher timeframe resistance region situated around $416. This area is showing strong technical confluence, aligning with the 0.618 Fibonacci retracement level and the Value Area High, making it a critical zone for market reaction. Recent bullish momentum has pushed XMR directly into resistance, however, price is now entering an area where sellers previously stepped in aggressively. As long as price action remains below the $416 resistance cluster, the current rally is technically considered bearish within a larger rotational structure. From a market structure perspective, the recent move appears more like a relief rally into resistance rather than a confirmed bullish breakout. A rejection from the current region would increase the probability of a rotational move back toward the major higher timeframe support situated around $261. The key factor to monitor now is whether buyers can reclaim acceptance above resistance. Failure to do so would likely reinforce bearish continuation and maintain the broader range-bound conditions that XMR has been respecting. For now, XMR continues to trade within a rotational market structure, with resistance still controlling the higher timeframe direction unless a confirmed breakout occurs above the current supply zone.