• Monero rose 5.03% to $322.88, with a $5.96 billion market cap, by a trading volume of $379.07 million
• Analysts predict a move above $320 and a possible uptick towards $347.87 and the $420 area.
• A bullish MA50/100 crossover may trigger a 79.64% jump, earning profits of up to 128%.

Monero (XMR) is showing renewed bullish energy, as its price has risen above $320, indicating a possible major breakout. Token has experienced a 5% day-to-date increase, supported by technical levels and advancing marketplace activity. Analysts anticipate a jump to $420 if key supporting levels are in place.

XMR is currently trading at $322.88, a 5.03% increase in the last 24 hours. The private crypto has a $5.96 billion market cap and a $379.07 million trading volume per day, a sign of increased investor confidence as it battles to break major levels of resistance.

Monero Gears Up for Rally Toward $347.87

According to analyst Crypto Zee, Monero appears ready for a potential move. The price could fall towards the $285 support level before it tries breaking above the $320 area of resistance. A break above this level could pave the way to the next significant level at $347.87, beginning a healthier bullish phase.

Also Read | Can Shiba Inu (SHIB ) Spark A New Rally to $0.00002 this October?

Monero Poised for $420 Upside Move

Since early February 2024, Monero has been moving inside a channel up pattern, maintaining higher lows even after sharp corrections. The current market volatility pushed the lower edge of this channel, but failed to show that the configuration remains strong. Indicating the same trendline that served as support ever since November 2024 remains dominant.

Technical charts also indicate a possible 1-day MA50/100 bull crossover later this week, possibly within the day. If confirmed, this signal could trigger a powerful rally. Analysts believe that the XMR will rally by approximately 79.64% from its recent bottom, which will take the price towards $420, back to the level last experienced in May 2025.

During a stronger rally phase, the XMR may even target a 128% increase, possibly aligning with the 2.0 Fibonacci extension, given the week’s MA50 remains in a stable trend. But a breakdown below the supporting level may push the prices towards the area of $190, where the 1-week MA200 is positioned, at a crucial long-term protection for the bullish setup for Monero.

As momentum builds and major signals align, the coming sessions for Monero may determine whether it achieves a sustained breakout or back into consolidation. Currently, the $320–$347 zone stands as the key showdown area between bulls and bears.

Also Read | Polygon Expands Into AI and Digital Asset Treasuries for Future Growth: Report