Monero Surges 82%, Eyes $489 Amid Bullish Trend
Key Takeaways
- Monero (XMR) has increased by 82% over the past 40 days.
- The price broke through long-term resistance levels and continues to show strength.
- Technical indicators suggest further upside potential.
- Chart analysis shows realistic targets at $396 and $489.
- Compared to Bitcoin (BTC) and Ethereum (ETH), XMR demonstrates relative strength.
Long-Term Breakout Confirms the Trend
Since December 2024, Monero has shown a clearly bullish chart pattern. The price broke out of a multi-year sideways range and established itself above the $183 level, which had served as strong resistance since mid-2022. This zone has since been successfully tested multiple times as support—a classic signal of a stable uptrend.
Fibonacci retracement analysis based on the price decline from 2021 to 2022 shows the 61.8% level at $246. This area was retested in spring 2025 and ultimately broken through. Since then, the rally has continued.
High Trading Volume Supports the Trend
A key factor behind the current price strength is the consistently high trading volume. For over a year, volume has remained elevated. This indicates ongoing interest and confidence in Monero—particularly from long-term investors.
The daily chart also presents a stable picture. The Chaikin Money Flow (CMF) is at +0.12, indicating strong capital inflows. Additionally, the Money Flow Index (MFI) values do not suggest an overbought market, leaving room for further price increases.
Relative Strength Compared to BTC and ETH
While Bitcoin has been moving sideways since April 9, Monero has gained 13.7%. XMR shows a similar performance when compared to Ethereum. This relative strength is another positive indicator for Monero’s development.
Technical Price Targets: $396 and $489
Based on Fibonacci extensions, two relevant price targets emerge: $396.80 (23.6% extension) and $489.50 (61.8% extension). These levels could be reached in the coming weeks if the trend remains intact.
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For investors who are already in the market, these zones could represent attractive points for profit-taking. However, newcomers should be aware that entering after a strong rally carries increased risk.
Our Assessment
Monero currently presents a convincing technical outlook. The breakout from long-term consolidation, supported by high volume and positive indicators, suggests further potential. The price targets near $400 and $490 appear realistic from today’s perspective.
Whether XMR can surpass its previous all-time high of $542 this year will also depend on the broader development of the crypto market. Nevertheless, those already invested can hope for a continuation of the trend. New investors should watch for pullbacks and avoid acting out of FOMO (Fear of Missing Out).
Sources
- TradingView
- Analysis by Akashnath S
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