Decoding Moneros 32% rally: Will XMR target $571 or...
Monero [XMR] rose 7.68% in the past 24 hours, and according to CoinMarketCap data, the daily trading volume witnessed a 26% increase on the 12th of September. A weekend Volume increase could help XMR maintain momentum if demand remained steady. Since the days open at $78,338 on the 22nd of August, Bitcoin [BTC] was down 1.42% to $77,225 at the time of writing. It has spent the majority of the past three weeks trapped below the $80k resistance but holding on above the $77k support. In the same three weeks, Monero had rallied by 32.2%. The privacy coin saw a retracement from the $550 supply zone over the past week, but the past 48 hours gains meant that XMR bulls were knocking on the $550 resistance once again. Monero ready to challenge the January highs once more Source: XMR/USDT on TradingView On the weekly timeframe, Monero has a bullish structure. The rally in 2025 set a new high at $571, while the $261 low that the move originated from was not breached. When XMR challenged Julys $409 swing high, bulls cleared the level within two weeks. The move then extended close to $571, reflecting strong higher-timeframe demand. Swing traders and investors may need to respect that broader structure. However,









