Monero Soars 32% in Three Weeks, Will It Conquer $571 Resistance?
Monero's price has seen a significant surge in recent days, rising by 32.2% over the past three weeks. This rally has been accompanied by an increase in trading volume, with a 26% spike on September 12th.
The cryptocurrency market is often influenced by the performance of its largest asset, Bitcoin. However, despite BTC being down 1.42% to $77,225 at the time of writing, Monero has continued to gain momentum, retracing from the $550 supply zone over the past week but now knocking on the $550 resistance once again.
On the weekly timeframe, Monero's trend is bullish, with a new high set at $571 in 2025. The $261 low from this move was not breached, and when XMR challenged July's $409 swing high, bulls cleared the level within two weeks, extending close to $571.
However, Bitcoin's weakness adds another test for Monero, raising questions about whether it can sustain its push without BTC reclaiming $80,000. The cryptocurrency's price action suggests a continuation of the current uptrend, with indicators such as the CMF and Stochastic RSI pointing to bullish strength.