Monero Rallies 11%, Buyers Eye $400 Breakout

Monero (XMR) has been one of the top performers in the crypto market this week, rising by over 11%. The rally has pushed the XMR price back to the $375-$380 resistance zone, a level that has capped every major rally since February. Despite weeks of steady accumulation, Monero's price still faces significant resistance at this point.

The key question now is whether buyers can force a breakout above this long-standing supply zone or face another rejection. A decisive daily close above the $375-$380 resistance could confirm a breakout and pave the way for Monero to reach its next major upside target near $423, with the possibility of even reaching $478.

However, if buyers fail to reclaim the current resistance, they may trigger another consolidation phase, with $340 and $316 acting as the nearest support levels. To determine which outcome is more likely, we need to examine the metrics supporting Monero's recent rally.