- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Monero: Will an 82% rally in 40 days help XMR reach $489?
By: ambcrypto|2025/05/16 16:15:04
0
Share
XMR has a sound long-term bullish outlook on the price charts. The breakout, consolidation, followed by another breakout, underlined the strength of the asset over longer time horizons. Monero [XMR] has rallied 82% since the 7th of April. The trading volume has been steadily high over the past year. With its previous all-time high at $542, just 60% higher, the odds of a new all-time high later this year appeared good. XMR presents a solid bullish case Source: XMR/USDT on TradingView The 1-week chart showed an asset breaking out of a multi-year consolidation phase in December. The $183 level, which had been a stern resistance since mid-2022, was flipped to support. Till April, this support level was retested on multiple occasions. The Fibonacci retracement levels plotted based on the drop in 2021-22 showed that the 61.8% level was at $246. Earlier this year, this level was tested as resistance, but a breakout was not possible. Over the past year, the trend of high trading volume has accompanied Monero’s breakout, consolidation, and the subsequent rally this May. For long-term investors, this was excellent news, as it showed heightened demand and conviction. The 1-week chart painted an intensely bullish picture. It might be a slightly late for FOMO, but it appeared that XMR was setting up to climb to a new all-time high. In the coming weeks, the 23.6% and 61.8% extension levels at $396.8 and $489.5 would be the next targets. Source: XMR/USDT on TradingView On the 1-day chart, Monero retained its bullish fervor. The CMF was at +0.12 to signal heavy capital inflows. The trading volume has picked up from April, as evidenced by the rising 20-period moving average for the volume bars. The MFI did not yet signal an overextended market on the 1-day timeframe. Hence, the strong upward momentum could carry XMR a little higher. Since the 9th of April, Bitcoin [BTC] has traded within a short-term range . During this time, Monero managed to rally 13.7%. These returns were on par with Ethereum [ETH] . This relative strength against BTC and ETH was another hint of bullish strength. Holders may wait for a move to $400 and $500 to realize further profits. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Share Share Tweet
You may also like
Pantera Capital: How has Crypto as a Service affected us?
If you are planning to start a business in 2026, my advice is simple: Instead of just talking about technology, focus more on how you can solve real-world problems.
Pantera Capital: What changes have we made when crypto is treated as a service?
If you are planning to start a business in 2026, my advice is simple: stop talking excessively about technology and focus more on the actual problems you can solve.
Wall Street Shorts ETH: Vitalik is aware and has front-run, while Tom Lee remains oblivious
"The Ethereum token economic model has collapsed, wake up and see this clearly."
Social Capital CEO: How Equity Tokenization is Reshaping Capital Markets from US Stocks to SpaceX?
Equity tokens represent the next challenge: can tokenization expand from payments to ownership of financial assets?
CoinGecko Report: Surge of 346% vs Dip of 20.8%, The Wild Rise of DEX
A large-scale capital migration driven by platforms such as Hyperliquid towards decentralized infrastructure from centralization.
a16z: The Real Opportunity of Stablecoins Lies Not in Disruption but in Filling Gaps
The opportunity for stablecoins lies with those merchants that have yet to emerge.
Mining Exodus: Someone Holds $12.8 Billion AI Order
Mining Farms are Turning to AI Hashpower with no Turning Back.
March 6 Market Key Intelligence, How Much Did You Miss?
1. On-chain Funds: $16.3M USD has flowed into the OP Mainnet today; $13.7M USD has flowed out of Arbitrum
2. Largest Price Swings: $XPT, $AIX
3. Top News: Vitalik Calls on Ethereum Community to Shift Mindset, Uphold Core Principles, and Rethink Application Design "From Scratch"
a16z: The True Opportunity of Stablecoins is in Complementing, Not Disrupting
The stablecoin opportunity lies with those merchants yet to come onboard.
Predict LALIGA Matches, Shoot Daily & Win BTC, USDT and WXT on WEEX
The WEEX × LALIGA campaign brought together football excitement and crypto participation through a dynamic interactive experience. During the event, users predicted matches, completed trading tasks, and took daily shots to compete for rewards including BTC, USDT, WXT, and exclusive prizes.
Ray Dalio Dialogue: Why I'm Betting on Gold and Not Bitcoin
Gold is the only asset with a long-term history that can be transferred, is not easily replicable, and does not rely on anyone else's promise. Most currencies, debts, stocks, etc., are just promises of someone honoring their purchasing power.
Who Took the Money in the AI Era? A Must-See Investment Checklist for HALO Asset Trading
A one-page paper listed a series of questions about the potential impact of AI progress. Looking back over two years later, these questions appear particularly prescient, although none of them provided a definitive answer at the time.
Wall Street Bears Target Ethereum: Vitalik In the Know Takes Flight, Tom Lee Remains Bullish
「The Ethereum Tokenomics Has Collapsed, Wake Up and Realize It」
Pump.fun Hacker Steals $2 Million, Receives 6-Year Prison Sentence, Opts for 'Self-Detonation'
Life of Talent, Paranoia, and Setbacks
6% Annual Percentage Yield as Musk Declares War on Traditional Banks
A black metal card, 600x rate delta.
36 years, 4 wars, 1 script: How does capital price the world in conflict?
When the cannon fires, 10,000 ounces of gold. In a turbulent era, the wealth choice of the common people.
Mining Companies' Great Migration: Some Have Already Secured $12.8 Billion in AI Orders
Mining companies turn to AI computing power, with no turning back.
What Is Vibe Coding? How AI Is Changing Web3 & Crypto Development
What is vibe coding? Learn how AI coding tools are lowering the barrier to Web3 development and enabling anyone to build crypto applications.
Pantera Capital: How has Crypto as a Service affected us?
If you are planning to start a business in 2026, my advice is simple: Instead of just talking about technology, focus more on how you can solve real-world problems.
Pantera Capital: What changes have we made when crypto is treated as a service?
If you are planning to start a business in 2026, my advice is simple: stop talking excessively about technology and focus more on the actual problems you can solve.
Wall Street Shorts ETH: Vitalik is aware and has front-run, while Tom Lee remains oblivious
"The Ethereum token economic model has collapsed, wake up and see this clearly."
Social Capital CEO: How Equity Tokenization is Reshaping Capital Markets from US Stocks to SpaceX?
Equity tokens represent the next challenge: can tokenization expand from payments to ownership of financial assets?
CoinGecko Report: Surge of 346% vs Dip of 20.8%, The Wild Rise of DEX
A large-scale capital migration driven by platforms such as Hyperliquid towards decentralized infrastructure from centralization.
a16z: The Real Opportunity of Stablecoins Lies Not in Disruption but in Filling Gaps
The opportunity for stablecoins lies with those merchants that have yet to emerge.
App