Monero soars to new all-time high: Can XMR reach $1000?

Privacy Coins: The Great Hype Comeback?

After months of consolidation, the cryptocurrency privacy sector is making a violent comeback to center stage. Monero, the undisputed leader of the segment, is benefiting from an aggressive risk-on market sentiment. The current price is hovering around $585, displaying an explosive variation of more than 20% over the last 24 hours.

This rally is far from insignificant. It comes at a time when investors seem to be rediscovering the fundamental value of on-chain privacy. The decisive breakout above the high resistance zone of the range (Range high) triggered a cascade of buy orders, propelling XMR toward $600. Trading volumes have exploded, confirming that this movement is supported by strong buyer conviction and not merely ephemeral speculation.

Technical Analysis: A Decisive Breakout Into the Unknown

From a technical standpoint, the setup is perfectly bullish. By holding above its range at $418 and breaking through its former 2021 peak (around $518), Monero has unleashed considerable upside potential. The $596.87 level now acts as the new reference high. The absence of historical resistance above this level leaves buyers free to test higher psychological thresholds.

Momentum indicators are overheated but remain oriented to the upside. As long as the price holds above the former ATH transformed into major support (the $520 – $550 zone), the market structure favors continued upside. However, such verticality often calls for caution: a retracement to test newly acquired supports is a classic scenario before a new impulse.

Scenarios: Brutal Correction or Flight Toward $1000?

If buying pressure holds, the next logical target for bulls sits in the $700-800 zone, which corresponds to common Fibonacci extensions, before aiming for the symbolic $1000 threshold. This level, once unthinkable, becomes a mathematical reality if the current momentum doesn’t weaken.

Conversely, a failure to transform the $600 zone into support could trigger a rapid correction. Traders will closely monitor the $518 level. A weekly close below this threshold would invalidate the breakout and could send XMR back into its previous range zone. But for now, the bears seem to have completely capitulated in the face of the buying flow’s power.

With a crypto market rediscovering risk appetite and a capital rotation favorable to historic utility tokens, Monero finds itself in an ideal configuration. The real test will be holding the $550 support in case of profit-taking. If this level holds, the road to $1000 could be faster than expected. The question remains whether regulators will come to disrupt this bullish party.

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