Monero is back in the spotlight after a swift rally that has caught the eye of both crypto traders and privacy advocates. The current XMR price stands at $336.63, up 9.36% in just 24 hours and gaining 5.89% over the week. With its market cap surging to $6.21 billion and daily trading volume reaching $208.28 million, this privacy-based token is signaling renewed interest driven by several important factors.
From a technical standpoint, XMR’s price has convincingly broken out above its 30-day SMA at $307.81. And also, the crucial Fibonacci 23.6% retracement level at $327.76. This breakout, accompanied by daily lows of $305.20 and highs touching $336.30, marks the beginning of a broader bullish trend. Traders interpreted the move above the $330 area as a bullish confirmation.
Even though momentum indicators like the MACD histogram remain negative (-1.22), suggesting some lingering caution. The RSI holds steady near 52.68. The price is also climbing within an ascending channel, hinting at sustained buying interest. Looking ahead, a decisive close above the October swing high at $345.99 could launch the next price targets at $367. A move above which could open the doors to $393.
It is worth noting that volume remains a crucial metric. Sustained trading activity above $200 million per day would cement the bullish case and confirm underlying trend strength.
The rally is mainly fueled by revived interest in privacy coins, a successful network upgrade, and a powerful technical breakout above key resistance levels.
With the RSI at 52.68, Monero is sitting comfortably in neutral territory, so neither condition applies right now.
If the price closes above $345.99, targets of $367 and $393 come into play, especially if volume stays consistently above $200 million per day.
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.
Crypto sentiment is heating up again, and Dogecoin (DOGE) is once more leading the meme…
Pi Coin (PI) fell more than 3 percent today to $0.216, continuing its slow and…
The crypto market is experiencing high volatility as traders react to sharp moves in Bitcoin,…
XRP is trading around $2.48 and is being watched closely by investors as the new…
Bitcoin has dropped below $95,000, down 8% in a single day and over 24% from…
American Bitcoin’s latest earnings have put the company back in the spotlight. Eric Trump, the…
