The post Can Monero (XMR) Stage a Long-Overdue Rally? appeared on BitcoinEthereumNews.com.

XMR faces challenges but holds key support, suggesting potential bullish recovery. Regulatory pressure and delistings haven’t stopped Monero’s resilience and market interest. Monero (XMR), the leading privacy-focused cryptocurrency, is trading at $192, marking a 2% decline over the past 24 hours with a 36% drop in trading volume. Over the past week, XMR has slid 3%, remaining 63% below its all-time high (ATH) of $517, achieved in 2018. The token hit a nine-day low of $183 two days ago, signaling potential volatility. XMR Price Chart, Price: Sanbase Notably, in March, the blockchain faced congestion due to transaction flooding, temporarily halting user activity and exposing vulnerabilities in its infrastructure. Regulatory scrutiny further compounded challenges, leading to unprecedented delistings from major exchanges like Binance, Kraken, and OKX. Monero faced six times more delistings in 2024 compared to the previous year, as privacy tokens came under intensified regulatory pressure. Despite these setbacks, Monero has showcased resilience. It remained range-bound between $120 and $180 from 2022 to late 2024, with its $114 support level holding firm even during bearish market conditions. In December 2024, XMR broke free from this range, surging 50% weekly and hitting a two-year high of $231.96 before stabilizing at $180, which has now turned into a critical support level. Technical Indicators Point to Optimism The $180 level continues to serve as a strong foundation for Monero’s price. Technical analysis suggests that the token could rally towards $310, representing a 50% gain from current levels. Indicators such as RSI and MACD maintain a bullish trajectory, further supporting the possibility of upward momentum. Monero’s performance against Bitcoin also hints at potential strength. A double-bottom pattern formed in 2024 signals a bullish reversal. A breakout could lead to significant gains, potentially marking a 170% increase against BTC. While Monero faces stiff challenges, its…

---

Filed under: News - @ January 10, 2025 9:25 am