Key Takeaways
Why is the $350 level so important for Monero?
In a smoky parlor where the clock refuses to hurry, the 350 level behaves like a stubborn door. Since mid-July it has acted as resistance, and the piles of liquidations around it form a quiet crowd that drifts toward the spot as if drawn by a lamp-post in a wintry street. A little drama, a lot of habit, and perhaps a joke from fate-“try your luck at 350, if you must.” 😅🧐
What is Monero’s price momentum like?
Compared with Bitcoin, Monero has been carrying a stubborn spring in its step this week. The momentum feels less like a march and more like a cautious, persistent tug at the sleeve. Technical indicators across different timeframes nod in agreement, like a small chorus agreeing to keep the fire going. 🤏🔥
Monero [XMR] was pushing toward a three-month high at $358. The privacy token has witnessed strong demand and bullish momentum in recent weeks.
AMBCrypto’s technical analysis showed a bullish structure across multiple timeframes.
It was highly likely that the altcoin would soon challenge the $350-$360 supply zone. The recent market-wide pullback that came right after Bitcoin [BTC] made a new all-time high earlier this week did not affect XMR.
Bitcoin was down 3.48% since Monday’s high, while Monero was up 8.7% in the same period. Will this short-term outperformance initiate a long-term rally? 🤔
Monero is setting itself up for another upward move
In the weekly frame, XMR has risen from a quiet stumble to a robust rebound, after slipping to a fair value gap around the $250 mark. The rally that followed took aim at a 2025 high of $419.85 in May, and the room seems to still hold the air of possibility.
The retracement woke the balance as the imbalance stirred back, and the 78.6% Fibonacci retracement level at $235.46 offered a kind of polite support, as if the balcony of a theater whispered, “you may return, but not without a bow.”
Therefore, it felt likely to press on toward the $419 high and perhaps reach the 23.6% extension at $475.2, like a patient man chasing a distant joke. The OBV has been trending higher to show notable buying volume during the rally of 2025. Similarly, the RSI also signaled bullish momentum. Neither indicator hinted at overextended market conditions in this timeframe.
On the 1-day chart, a bullish market structure break came on the 2nd of October. After this break, the price revisited the imbalance at $300 that was left behind during the rally that brought the structure break. The indicators continued to sketch a bullish bias, as if the town’s tailor kept cutting fabric for a dress that might never be worn, but looks good in the mirror anyway.
From the 1-week to 3-month lookback periods, the liquidation heatmaps showed that the $343-$350 region was filled with short liquidations. The density of this liquidity pocket suggested a familiar neighborhood-XMR would likely wander back toward $350 again. Short liquidations could fuel a move to $360 or higher. Bulls would want to see this level flipped to support on the daily timeframe, making the path to $420 and beyond seem a touch more plausible, like a distant vacation plan that revenue keeps whispering about. 😏🧭
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2025-10-09 17:03