Monero Soars 32%, But Can It Overcome $571 Barrier?
Monero's price has surged by 32% over the past three weeks, outperforming Bitcoin which is stuck below $80k. The privacy coin had a retracement from its supply zone at $550 but regained momentum in the past 48 hours. According to CoinMarketCap data, Monero's daily trading volume increased by 26% on September 12th.
On the weekly timeframe, Monero has a bullish structure with a strong higher-timeframe demand. The rally in 2025 set a new high at $571, and despite the recent dip below $480, the level was not breached. This suggests that bulls may need to respect this broader structure, especially considering Bitcoin's weakness.
The daily timeframe shows a bearish momentum divergence between price and RSI, which led to a retest of the local demand zone at $480-$500. However, the current uptrend is likely to continue as the CMF is +0.05, Stochastic RSI is recovering from oversold territory, and the RSI's 66 reading signals bullish strength.