Monero price just logged an impressive 5.7% surge to $311.86 in the past day, decisively beating the crypto market average which dipped by 0.33%. As someone constantly tracking these charts, I see this move as more than just another green candle. It’s a combination of fresh privacy coin hype, a technical breakout, and a well-timed network upgrade breathing new life into XMR’s price action.
That spillover demand is clear in XMR’s outperformance. But technical traders like me also noticed XMR price smashing through its $307.37 resistance. This wasn’t just a random pop, the pattern triggered algorithmic buys. Layer in the recent Fluorine Fermi update from October 9, designed to block spy nodes and make the network even tougher to monitor. Now my friend you have a perfect recipe for bullish sentiment.
Currently, Monero price stands at $311.44, near its 24-hour high of $315.47. With a market cap of $5.74 billion and strong liquidity from $158.56 million in daily volume. The recent move above the 30-day SMA at $305.55, and 50% Fib retracement at $307.37 proved crucial, but a glance at the four-hour chart shows some caution flags.
Despite the breakout, the MACD histogram sits at -2.8, which still points to pockets of selling pressure. The RSI hovers around 50.88, far from overbought territory, suggesting that momentum is fading. After such a sharp rally, I’m watching for possible sideways churn as speculators decide whether to hold or take profit.
Support now sits at $298.25, close to the 61.8% Fibonacci level, a spot that’s seen buyers step in recently. If that fails, the next safety net is $283.33. On the upside, resistance remains firm at $327.76. For now, XMR’s trajectory looks cautiously optimistic, but a rejection at $327 could send it back toward $305 as bulls run out of steam.
A mix of privacy coin attention, breaking above $307.37 resistance, and a game-changing network upgrade all pushed XMR higher.
Short-term momentum slowed, but holding above $307.37 could keep buyers interested while resistance at $327.76 remains the next hurdle.
Watch $298.25 for support and $327.76 as resistance; a close above or below these marks will likely spark the next big move.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Expert market analyst Tom Lee says 2026 could be a powerful year for both crypto…
The crypto market today opened in December on the back foot as Bitcoin slipped toward…
Expectations are rising for a rate cut at the upcoming Fed meeting, as traders on…
Bitcoin’s dominance is slowly shrinking as its volatility declines and ETF-driven maturity limits upside. Analysts…
Sony Bank is gearing up to launch a USD-pegged stablecoin in the U.S. by early…
Ripple, a well-known financial technology company, has received official approval to expand its payment services…
