Monero’s rally slows at key resistance | Credit: Hameem Sarwar
Share
Key Takeaways
After a prolonged rally, the XMR price has stalled below a key level of resistance.
The RSI and support above the 20-day EMA suggest consolidation.
A close above $363.48 could trigger XMR to surge again.
Monero (XMR) has hit a wall near $400, pausing after weeks of steady gains. The privacy-focused cryptocurrency surged amid rising interest in coins linked to decentralized, anonymous transactions.
Yet, after climbing over 30% in a month, momentum appears to have cooled.
The altcoin now faces a pivotal moment — will XMR’s price consolidate before another breakout, or lose steam as resistance tightens its grip?
Monero Hits Resistance
Recently, XMR’s price rallied to a four-month high at $348.90. That price level has acted as strong resistance since late July, capping several attempts to break through.
Every approach toward it has triggered a short-term pullback, creating a ceiling that bulls have yet to shatter.
Get These Top Crypto Casino Offers Now!
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
Still, the tone of the market remains cautiously optimistic. Technical indicators suggest consolidation, not collapse.
For instance, on the 4-hour chart, the Money Flow Index (RSI) is currently at 63.68, having moved up from oversold conditions. As shown below, the Monero coin price remains within an ascending channel.
From the look of things, this cooling-off period could provide room for another leg higher if buyers return.
Meanwhile, the Monero coin price remains above its 20-day exponential moving average (EMA) at around $330, indicating a short-term uptrend.
Although trading activity has slowed slightly, accumulation patterns remain visible across major exchanges.
On-chain data shows an increase in wallet addresses holding between 50 and 100 XMR, a potential sign of mid-sized investors positioning for another rally.
The combination of steady accumulation and firm technical support often precedes renewed bullish momentum.
However, traders should watch for a potential retest of the $320 to $290 support zone.
A breakdown below this range could expose XMR to deeper corrections, potentially leading to a retest of $420, where its significant resistance currently resides.
XMR Price Analysis
On the daily chart, the MACD indicator also suggests weakening momentum, with the signal line flattening, indicating that the recent rally may need to reset before resuming.
Still, the broader market context gives bulls reason to hope. Bitcoin’s (BTC) stabilization above $105,000 has eased some pressure on altcoins, including Monero.
A decisive close above $363.48 would invalidate short-term bearish arguments and could spark a rally toward $500. That move would also confirm a breakout from a six-month ascending triangle pattern — a historically bullish formation.
For now, the Monero coin stands at a crossroads. Its fundamentals remain strong, and interest in privacy coin continues to rise, supporting the uptrend.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
