Monero rises 6.88% as interest surges after Iran considers privacy coins: weekly analysis
Monero (XMR) is currently trading at $345.03, positioned below the MA-20 ($395.55) and MA-50 ($351.36), but well above the MA-200 ($208.74) on the weekly chart. Over the last week, XMR gained $22.20 (6.88%), placing it in the upper part of its recent range and highlighting a rebound towards key resistance levels, though it remains under medium-term selling pressure.
343.7
415.11
Highlights
- XMR trades below near-term moving averages but maintains a bullish long-term trend above key support levels.
- Mixed momentum indicators and oscillators reflect weak buying interest and suggest prevailing seller dominance in the short term.
- Price is likely to consolidate between $338.75 and $343.52 over the next week, with a higher probability of downward movement unless resistance is decisively breached.
Improved sentiment and interest spike as Iran eyes crypto adoption
Monero attracted attention after reports that Iran is considering the use of cryptocurrencies, including privacy coins, for toll payments in the Strait of Hormuz. Interest in privacy-focused digital assets has increased, supported by broader improvements in sentiment toward cryptocurrencies. Trading activity has responded to these developments and Monero continues to feature in global discussions on cryptocurrency adoption.
Bearish momentum persists despite mixed signals and oversold readings
On the weekly chart, XMR remains below the MA-20 and MA-50, which act as dynamic resistance levels, while holding above the long-term MA-200. Weekly support stands at $338.75 with resistance at $351.36. The RSI (47.63) indicates weak or fading momentum, while the CCI (-65.15) supports this view. Weekly oscillators are mixed, as the ADX signals persistent bullish strength, but both the Stochastic RSI and Bull/Bear Power reveal oversold conditions and continued selling pressure; the Awesome Oscillator also points to ongoing bearish momentum.
Sideways outlook favored as breakout risks hinge on key levels
For the next 7 days, XMR is likely to trade within a sideways range, with the expected price band between $338.75 and $343.52. Weekly indicators suggest only a modest 25% probability of an upward move, favoring continued consolidation near $340. A decisive break above MA-50 ($351.36) could shift the outlook more bullishly, while a drop below $338.75 would reinforce the dominance of sellers.
Earlier, analysts noted that Monero faced persistent selling pressure and elevated downside risk amid regulatory headwinds. Current technical signals continue to highlight consolidation as the dominant theme, but traders should watch for a decisive move above weekly resistance at $351.36 to gauge any shift toward renewed bullish momentum.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
