Monero Gains Momentum as Privacy Concerns and Institutional Activity Bolster Demand
Monero (XMR) has recently shown strength in the market, trading at approximately $167.12, despite broader crypto market volatility. Over the past 72 hours, Monero has demonstrated resilience by holding key support levels , such as $170, after a modest recovery from a local bottom near its 365-day EMA. Technical indicators suggest that if XMR continues this upward trend, it could retest resistance at $182, with potential for a move towards $200​( Finbold )​( Gate.io ).
Technical Outlook Monero’s price is currently showing bullish signals as it attempts to break through its next resistance level at $182. A move past this level could see further gains, with the $200 mark acting as a psychological target. Relative strength index (RSI) values suggest the asset is nearing oversold territory, which may signal more buying opportunities​( Finbold ). The potential for a golden cross formation—a bullish technical indicator—has also fueled optimism for future gains​( ChangeHero ).