Bitcoin, along with other major cryptocurrencies, saw a sharp and rapid decline on October 10. The factors behind that drop have already been examined in prior analyses, which may provide additional helpful context.

As of October 28, Bitcoin continues to test a notable resistance zone established during that sell-off. However, one cryptocurrency has already shown a stronger reaction to similar market conditions — Monero (XMR).

Monero technical analysis

XMRUSD - 1 Day Time Frame

XMR successfully met the core structural requirements for a potential bullish transition: a sweep of sell-side liquidity followed by a decisive daily close above the referenced resistance level. This action confirms a Change in State of Delivery (CISD), signaling a shift from bearish to bullish price delivery within its current structure.

With these conditions satisfied, market participants could consider the potential for long-side exposure, while maintaining strict risk and money management practices. Limit orders — including Stop Loss and Take Profit — could be planned in advance, with the Stop Loss positioned below the internal higher low indicated on the chart.

It is also worth noting that if price falls back below the highlighted resistance-turned-support area (marked in orange), the bullish thesis could weaken, and managing open exposure earlier may be considered to reduce potential downside.

In contrast, the primary upside targets consist of two Take Profit zones located near liquidity levels above the May high and the 2021 high, offering notable potential if bullish momentum continues to develop.