Monero jumps as token buying pressure builds

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Monero surges 14.73% today on gains

Highlights

Monero trading is dominated by technical profit-taking amid reduced open interest in futures and subdued buyer activity.
Bearish sentiment prevails, as shown by the long-to-short ratio and the absence of major positive on-chain developments.
Technicals indicate a strong uptrend with high probability of continued gains, as XMR/USD is expected to consolidate between $403.27 and $430.99 barring a breakout.

Profit-taking escalates as open interest and buying wane

Trading in Monero has been driven primarily by technical profit-taking, with activity influenced by a decline in open interest for Monero futures and weaker buying pressure. The week also saw an absence of major positive on-chain developments. The long-to-short ratio has indicated a prevailing bearish sentiment among traders.

Anton Kharitonov, expert at Traders Union, points out that Monero’s price remains above all major moving averages, indicating technical strength. However, he notes that recent gains are largely the result of short-term profit-taking and not underpinned by significant on-chain or fundamental catalysts. Market sentiment remains fragile, with futures open interest falling and the long-to-short ratio suggesting trader caution. Multiple indicators show mixed momentum and the local trend strength appears to be waning despite the impressive daily gain. "Traders should be wary of false breakouts here, as the rally lacks solid volume and fundamental support," Kharitonov warns.

Viktoras Karapetjanc, expert at Traders Union, sees Monero’s bullish structure as intact. He highlights the sustained price above the 20-, 50-, and 200-day moving averages as a clear positive. The absence of negative news and supportive weekly indicators point to favorable conditions for further growth. Karapetjanc remains confident that multiple trading setups will continue to appear, with the opportunity for an upside breakout above $431. "Current momentum suggests that Monero’s market offers further upside for proactive buyers," he states.

Mixed momentum emerges as buyers dominate within volatile session

XMR/USD is trading above the 20-day ($391.91), 50-day ($380.23), and 200-day ($394.84) moving averages, signaling a strong uptrend across short-, medium-, and long-term timeframes. The price remains above the Ichimoku Kijun level ($392.41), positioning the latter as immediate dynamic support, with the next resistance seen near the recent high or the $420 round level. Momentum indicators show mixed signals. The Moving Average Convergence Divergence (MACD) on the daily chart is neutral, and the Average Directional Index (ADX) points to weakening trend strength locally, though both are bullish on the weekly timeframe. The Relative Strength Index (RSI) is in buy mode but not overbought, while Stochastic RSI signals strong buy and the Commodity Channel Index (CCI) shows oversold conditions, creating divergence among oscillators. Bull/Bear Power (BBP) indicates buyers are dominant on the day, though readings suggest overbought territory. The pair started the session with a significant upside gap (about $39.52) and climbed $52.32 or 14.73%, presently near the middle of the daily range, with intraday volatility at 6.85%. The tone remains firm after the open, as buyers maintain upward pressure.

Earlier, analysts noted that Monero’s price action reflected a contested balance between buyers and sellers, with technical signals pointing to potential consolidation. The current rally, coupled with diverging momentum indicators, now places the focus on whether XMR can decisively clear the $431 threshold to confirm sustained bullish momentum.

Source of Data: XMR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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