Monero (XMR) slid 5.1% to $576 in a Wednesday, Oct. 21 market reading, while Zcash (ZEC) and Bitcoin (BTC) gained, marking divergent moves among the three assets.
XMR's latest reading followed a Tuesday rally that began at $607 and topped at $627 before turning lower. The 24-hour figures put ZEC up 9.8% and BTC up 0.9%, so the other two assets advanced during the same comparison window.
Open interest in Monero derivatives rose as the coin traded above $600 earlier in the week. Such positioning can leave the market exposed to a rapid wave of liquidations if prices move sharply. Earlier lows in the $513-$520 range were also below Wednesday's quote and had not been reached by the time of the reading.
The four-hour chart's bullish setup hinges on a $484.29 threshold: a close below it would invalidate the pattern. On the daily chart, $484 and $438 were marked as lower reference levels than Wednesday's price.
