Monero Up 8.7%, Bitcoin Down 3.48% – Can XMR Continue to Outperform BTC?

Key Takeaways

Why is the €350 degree so vital for Monero?

This degree has acted as resistance since mid-July. The liquidation ranges clustered round it made it a sturdy magnetic zone in the direction of which costs gravitated.

What does Monero’s worth momentum appear to be?

In comparison with Bitcoin, Monero has had a very sturdy week. This relative power was confirmed by technical indicators throughout completely different time frames.

Cash [XMR] headed in the direction of a three-month excessive at $358. The privateness token has witnessed sturdy demand and bullish momentum in current weeks.

AMBCrypto’s technical evaluation confirmed a bullish construction throughout a number of time frames.

It was very seemingly that the altcoin would quickly problem the $350-$360 provide zone. The current market-wide pullback that got here proper after Bitcoin [BTC] which hit a brand new all-time excessive earlier this week, had no impression on XMR.

Bitcoin fell 3.48% since Monday’s excessive, whereas Monero rose 8.7% over the identical interval. Will this short-term outperformance provoke a long-term rally?

Monero is getting ready for one more upward transfer

Supply: XMR/USDT on TradingView

On the weekly timeframe, XMR has recovered strongly after falling to the truthful worth hole round $250. This retracement got here after the token rose to a 2025 excessive of $419.85 in Might.

The retracement noticed a bullish response because of the imbalance, as did the 78.6% Fibonacci retracement degree at $235.46.

Due to this fact, it was very more likely to proceed in the direction of the excessive of $419 and presumably the 23.6% extension at $475.2.

The OBV was on an upward pattern and confirmed notable shopping for quantity throughout the 2025 rally. Equally, the RSI additionally indicated bullish momentum. Neither indicator indicated overextended market situations on this timeframe.

Supply: XMR/USDT on TradingView

On the 1-day chart, a bullish market construction break occurred on October 2. After this break, the worth revised the $300 imbalance left from the rally that precipitated the construction break.

The technical indicators continued to painting a bullish bias.

Supply: MintGlass

From the one-week to three-month lookback durations, the liquidation heatmaps confirmed the $343-$350 area was crammed with brief liquidations.

The density of this liquidity place meant that it was very seemingly that XMR would attain the $350 degree once more.

Quick liquidations may gas an XMR transfer to $360 or increased. Bulls want to see this degree reverse to assist on the day by day timeframe, making the transfer to $420 and above extra seemingly.

Disclaimer: The knowledge offered doesn’t represent monetary recommendation, funding recommendation, buying and selling recommendation or every other type of recommendation and is solely the opinion of the author