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- Monero surged nearly 9% while Bitcoin corrected 3.5%.
- Technical indicators show strong bullish momentum toward $420.
- A break and hold above $350 could trigger the next major rally.
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While most of the crypto market cooled off after Bitcoin’s minor correction this week, Monero (XMR) continued to climb. The privacy-focused token surged nearly 9% since Monday, reaching toward a three-month high near $358, showing resilience and renewed investor confidence.
Bitcoin’s 3.5% dip did little to slow Monero’s advance, underscoring its independent strength in a market still dominated by macro sentiment. Analysts suggest XMR’s performance could mark the beginning of a longer-term uptrend.
Technicals Show a Clear Bullish Setup
On the weekly chart, Monero rebounded from a critical support zone around $250, aligning with a 78.6% Fibonacci retracement. The recovery has pushed XMR back into bullish territory, targeting a retest of its 2025 high at $419.85, with potential to extend toward $475 if momentum holds.
Indicators back this view — the On-Balance Volume (OBV) continues to climb, confirming strong buying pressure, while the RSI reflects bullish momentum without signaling overbought conditions.
Key Levels: $350 as a Launchpad for the Next Leg Up
On the daily timeframe, XMR broke its short-term market structure on October 2 and retested the $300 zone — a move that reinforced support before another leg higher. Liquidity data from CoinGlass shows a dense cluster of short liquidations between $343–$350, suggesting XMR could surge past this level as traders are forced to cover positions.
Also Read: Monero Price Surges Above $300 Despite 51% Attack Risks
If bulls flip $350 into support, the path to $420 becomes increasingly likely — a move that would signal not just short-term strength but the possible start of a sustained rally.
Monero’s Quiet Comeback Gains Momentum
Monero’s recent resilience stands out in a choppy market. With strong technical backing and growing bullish sentiment, XMR could soon challenge key resistance levels and reclaim its May highs. Traders will be watching closely to see if this breakout marks the beginning of a new upward cycle for the leading privacy coin.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
