XMR holds $322 despite a pullback from a 20% monthly surge.
The rising MFI and CMF indicate growing accumulation.
XMR’s break above $341 could help it target $420 next.
Over the past month, Monero (XMR) has surged by 20%, amid bullish sentiment around privacy-focused cryptocurrencies. Yet, despite the rally, the privacy coin hit resistance at $341, triggering a mild 6% pullback in the last 24 hours.
At press time, XMR’s price is $322, remaining stable despite indicators suggesting the cryptocurrency is poised for another rally.
This decline may have affected the sentiment that holders have around the coin. But an extended drawdown is unlikely.
Capital Returns to XMR
On the 4-hour chart, XMR’s Money Flow Index (MFI) shows a steady uptrend. Currently at 41.19, the MFI hovers near the neutral 50 zone.
This reading seems to be a turning point between selling exhaustion and rising buying strength.
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If the indicator breaks above 50, it could indicate an increase in buying pressure, setting the stage for a rebound toward $341.
Similarly, the Chaikin Money Flow (CMF) complements this momentum. Although still in negative territory at -0.06, the indicator trends upward, inching closer to the neutral line at zero
This movement highlights improving inflows and diminishing outflows — early signs that investors may be accumulating XMR. A crossover into positive territory would likely confirm growing confidence and strengthen XMR’s price upswing.
XMR/USD 4-Hour Chart
If this momentum continues, bulls could reclaim the $341 psychological barrier. If sustained, this could potentially pave the way for an extended breakout toward $370.
XMR Price Outlook
Zooming in on the daily chart, Fibonacci retracement levels offer clearer insights into where XMR may move.
The 0.618 Fib level at $312 is a critical midterm support zone. Buyers have historically defended this level on several occasions.
Therefore, holding above this point would confirm resilience and signal that bulls remain in control.
In contrast, the 0.382Fib level at $245 represents a deeper correction zone, which could become active if market sentiment turns bearish.
However, the overall structure remains solid as XMR trades above $312.
On the upside, the 0.786 Fib level at $359 aligns closely with the next resistance zone at $342, forming a crucial breakout region.
A notable move above this level could pave the way for the 1.0 Fib extension at $421, thereby completing the bullish cycle and potentially setting a new local high.
XMR/USD Daily Chart | Credit: TradingView
If accumulation pressure intensifies, XMR’s price could reach $420 in the coming weeks. However, fading buying momentum could slow the rally, potentially invalidating short-term bullish signals.
Still, with capital rotation favoring privacy coins and indicators flashing early recovery signs, XMR’s price appears ready for another leg upward —perhaps its most important one for the year.
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.
