Monero drops 63% after January peak as XMR tests key bearish zones

Monero's price surged parabolically in January before setting a new all-time high at $798, then slid into a 63.7% correction over 22 days as Bitcoin lost bullish momentum. XMR has broken long-term trendline support, moved below major Fibonacci retracement levels such as $352, and recently touched $276, while indicators like the A/D and DMI point to persistent selling pressure and an ongoing downtrend.