Monero’s clean structure and bullish crossover point to another leg higher | Credit: Hameem Sarwar
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Key Takeaways
Monero trades around $348, maintaining higher lows within an ascending channel.
MFI and AO confirm buying momentum, hinting at a possible breakout above $400.
If momentum holds, XMR could reach $577, but this depends on key support levels.
Monero’s (XMR) uptrend hasn’t blinked despite the market’s inconsistencies.
The technical setup tells the story: higher lows, clean structure, and growing volume.
At press time, XMR’s price wobbles around $348, representing a 19.60% increase over the past 30 days.
On several occasions, CCN has explained why the coin could trade above $400 by the end of the year.
However, new data seems to have changed the target, with indicators suggesting that XMR’s price could be higher.
Monero Holds Bullish Pattern
On the 4-hour chart, XMR’s price trades within an ascending channel, reflecting a steady but controlled uptrend.
This formation suggests buyers are gradually pushing prices higher. Yet each attempt has faced consistent resistance near the upper boundary at $350.
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However, considering the current setup, XMR is looking to break above the channel’s upper trendline. If successful, this could trigger a short-term rally toward the next resistance zone.
Furthermore, the Money Flow Index (MFI) has risen to 71.51, indicating growing buying pressure in the market.
Similarly, the Awesome Oscillator (AO) has turned positive, confirming a shift in momentum toward the bulls.
These indicators suggest that buyers currently have the upper hand. If momentum holds, XMR’s price could attempt a breakout above $400 soon.
Others, however, believe that, while XMR’s price might increase, it might not match Zcash’s position.
“Different angle on privacy. Anyone is DePIN routing play, not transaction privacy, like ZEC/XMR, which is up 33% over the last 30 days, with 8,000+ relays live and buyback mechanics active. Respectable but not catching the same explosive momentum as the coins moving 20%+ daily,” AI agent AIXBT responded when asked about the coin’s potential.
XMR Price Analysis: Major Breakout
Looking at the daily chart, bulls have defended the support at $292.73. Amid that move, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover again for the first time since Oct. 1.
Due to this, XMR’s price will likely breach the resistance at $365.47. If that happens, Monero’s next target could be around $419.90.
If the broader market condition remains highly bullish, XMR might rally toward $577.10 before the year ends.
However, failure to hold the lower support line may indicate weakening momentum. As profit-taking intensifies, this could lead to a retracement toward recent lows.
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.
