Rising volume, bullish structure, and contrarian funding rate to more upside for XMR | Credit: Hameem Sarwar
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Key Takeaways
XMR breaks falling channel with rising volume and bullish momentum.
A negative funding rate hints at a potential short squeeze ahead.
The daily chart indicates that XMR may close above the next resistance level.
XMR, the native coin of the Monero project, has joined the broader crypto market rebound.
Over the last 24 hours, the token’s market value has increased by 5.84%, with the XMR price chart indicating that it may continue to rise.
Additionally, the trading volume has increased by 35%, indicating growing market interest.
Here are the key levels to watch and potential targets that XMR could hit before the year closes.
Monero Breakout Reinforces Bullish Bias
At the time of writing, the XMR price chart on the 4-hour timeframe shows a breakout above the upper trendline of a falling channel.
This move marks a shift in structure, signaling that bullish momentum is beginning to take control.
A closer look at the chart reveals that the Bull Bear Power (BBP) has turned negative for the first time since last Thursday.
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If the spot market continues to experience buy pressure, these short positions may face a liquidation risk. In turn, this could trigger a short squeeze.
Since the XMR price chart shows no signs of the uptrend slowing down, the altcoin may continue climbing toward the next resistance zone.
XMR Price Targets Resistance
Returning to the technical setup, the daily chart shows XMR trading inside an ascending triangle.
As seen below, the coin has formed a series of higher lows and is now pressing against the horizontal resistance line. A breakout from this formation would confirm strong upward momentum.
Meanwhile, the Chaikin Money Flow (CMF) has crossed above the zero line, signaling rising buying pressure. If this trend holds, XMR’s price could climb toward $470.36 in the short term and potentially retest the $500 level soon after.
If the Federal Reserve announces a rate cut today, the bullish outlook may strengthen even further.
In that case, XMR could accelerate toward $658.44, supported by increased market liquidity and stronger risk appetite.
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.
