The Monero price experienced quick gains, with the volume growing more than 400% to 500% and marked new highs close to $800. However, in the times when the price was believed to smash the psychological resistance at $1000, the bears hit the markets and slashed the price hard. Currently, the token is seeing a sharp pullback today after a strong, fast rally that pushed the XMR price into overheated territory.
The sudden reversal has caught late buyers off guard, and the speed of the decline suggests this isn’t just a slow drift lower.
The drastic rise in the price to the ATH seems to have attracted the bears, triggering profit-taking. However, the volume sustains above the average zone, hinting towards the rising volatility within the platform. This could keep the traders on their feet; as a result, a small rebound could attract massive buying pressure, raising the price levels back into the demand area.
Monero Price Analysis: What XMR/USDT Charts Say
The XMR price surged significantly in the past few days, which is helping the bulls to digest the ongoing selling pressure. The token remains within the bullish range and hence flashes the possibility of a rebound. Although the token has lost over 30% gains in the past few days, the price remains within a bullish range, displaying a strong possibility of a reversal with an aim to mark fresh highs.
As seen in the above chart, the Monero price has been rising steadily within a rising parallel channel before a bullish breakout to new highs. The bulls are defending the support at the resistance of the channel, and until the price remains above this range, the possibility of a strong bounce could persist. The MACD is about to undergo a bearish crossover, hinting towards a deeper correction; however, OBV remains elevated. The levels are rising along the increasing trend line, which is acting as a support, flashing bullish signals for the crypto.
What’s next for Monero? Will it Reach $1000?
Today’s move looks like a cooldown after a rapid rally. Monero is now testing whether that surge built a real base or was just a short-lived spike. If buyers defend support and the price starts consolidating, XMR can rebound. If support breaks, the pullback may deepen as the market searches for stronger demand. Volatility should stay high over the next few sessions.
Despite this, Monero can still reach $1,000, but not because of today’s drop. This looks like an overheated rally unwinding. XMR must stabilize, reclaim key resistance, and retest recent highs. If it fails, the correction extends and delays the $1,000 target.
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