• Monero (XMR) gained 8.65% this week, showing a strong bullish structure.
• Analysts anticipate a potential 46% upside to $484.
• RSI and MACD confirm strengthening momentum.
• Consolidation above $320 supports further upside potential.

Monero (XMR) continues to strengthen its bullish trajectory as the token extends its recent gains. Over the last 24 hours, XMR rose by 3.45%, while its weekly performance showed an impressive 8.65% increase. This sustained growth reflects solid investor confidence and a stable demand base.

At the time of writing, XMR is trading at $341.01, supported by a daily trading volume of $160.54 million, up 13.01% in 24 hours. Its market capitalization has also increased by 3.44%, reaching $6.29 billion, highlighting sustained investor interest.

Also Read: Monero (XMR) Bulls Dominate as Price Hits $408 – Is a Pullback Coming?

Analysts Predict Potential Rally Toward $484

Market analysts see a promising path ahead for Monero. According to technical projections, the cryptocurrency could experience another strong rally if it maintains its breakout zone. Analyst @JavonTM1 notes that XMR appears ready for a continuation move, with an upside potential of about 46%, targeting $484.44.

Chart patterns also strengthen this perspective on Monero. After the extended downtrend ended in late 2022, Monero spent the entire year 2023 in a rounded accumulation phase. The definitive breakout in 2024 created a pattern of higher highs and higher lows, which is a clear indicator of a bullish pattern. Now, Monero is trading within the range of $320-$350.

A strong breakthrough above the levels of $360–$370 could lead to renewed buying interest and could fit the next impulse wave forecast. While XMR is still trading above the levels of $300–$310, it is anticipated that the upside trend will remain in place.

XMR Technical Indicators Support the Bullish Bias

The Relative Strength Index (RSI) is at 60.81, breaking above its signal line of 53.09. This shows Monero approaching the bullish region, though it’s not yet in the overbought segment since it’s below the 70 level. The overall tendency of the RSI shows improvement from its previous downturns, which can be attributed to its current uptrend.

The Moving Average Convergence Divergence (MACD) indicator also provides evidence supporting the positive outlook. The MACD indicator line has crossed the signal line, with the histogram turning green. Essentially, both RSI and MACD provide evidence of an improvement in technicals, thus supporting confidence in Monero’s bullish cycle, which will propel it to a push of $484.

Also Read: Kaspa Gains Momentum While XMR and Litecoin Await Altcoin Trigger