A new wallet deposited 4 million USDC on Hyperliquid before opening a 5x long position on 3,000 XMR, worth about $1.77 million. XMR is trading near $590 after being rejected at roughly $657 and moving sideways between $580 and $620. The latest daily candle closed below $600, a level buyers had defended for several days, while the RSI near 55 indicates that the market has cooled without turning notably weak. The nearest support is at $577, followed by $552 to $557, while a move back above $600 could open the way to a test of $620 to $660. Lower selling volume during the pullback suggests a pause in the uptrend that began around $320 in July.
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