Monero (XMR) trades at $408.83, up 0.53%

Monero (XMR) is trading at $408.83, a relatively small intraday advance of 0.53%. The 24-hour trading volume of the cryptocurrency has increased

Monero (XMR) displayed a relatively small intraday increase of 0.53%, bringing its price to $408.83 by 07:05 (GMT+2). In the last 24-hour period, the cryptocurrency's trading volume rose by 3.02%, reaching $116.46 million, indicating persistent demand in the market.

Monero price analysis: strong trend continues despite overbought momentum

The price of Monero has risen by 19.01% over the last week, highlighting increased investor demand and intense buying pressure. As the major cryptocurrency continues to move in a bullish trend, it has broken past a major resistance level.

After striking a high of $517.62 in August 2019, the cryptocurrency experienced a downturn and fell below the $100 level in March 2020 during the COVID-19 market crash. However, after forming a base above the $50 level in July 2022, it displayed a strong recovery.

Now, it appears to have broken out of a significant resistance zone ranging from $400 to $410, which it last tested in August 2022. This breakout indicates that the cryptocurrency might be entering price discovery mode, which is characterized by a strong upward movement and the formation of new highs.

Momentum indicators, on the contrary, depict signals of overextension; the Relative Strength Index (RSI) registers 86.73, far beyond common overbought levels. Usually, these higher RSI values alert the traders of potential pullbacks or trends that might be exhausting themselves. However, in the case of a strong and solid trend, these conditions can persist over the70.8 ADX reading further validates the strength of the current trend to confirm the buyers are in firm control. Meanwhile, a widening of the Bollinger Bands of 21.74% indicates increased volatility, which can continue to exist as the price of Monero navigates the current trading range.

Trailing stops to protect profits in the strong Monero trend

Current trading strategies suggest caution as a result of high momentum indicators. Major support comes at the $398 pivot level, where dip-buying opportunities may arise. As resistance, we see the levels around $410, while a longer-term goal stretches to $417. To manage risks, stop-loss orders below $391 are recommended to contain the downside exposure.

Even with a supportive trading volume, a dip in the volume ratio to 0.92x calls for caution. Prudent investors might want to wait for the retracements into the $391–$398 support range to establish new positions.

With the significant trend strength, the use of trailing stops remains a good strategy to guard profit while still enabling further uptrend participation. In addition, smaller position sizes are advised to cushion risks during potential short-term consolidations. Taking some profit at the resistance levels, especially at $410, is also advisable to lock in profit while not taking the entire trade out.

In conclusion, the analysis of Monero's price suggests that the cryptocurrency is in a strong bullish trend, which might be nearing its end. As always, traders should use this analysis for their own trading decisions and never invest more than they can afford to lose.

XMR price prediction for 2025

According to DigitalCoinPrice's latest predictions, the price of Monero (XMR) is expected to experience a substantial increase by the end of 2025. Building upon its last analysis, DigitalCoinPrice forecasts that XMR's average value throughout 2025 will be $640.11, reaching a minimum of $374.32 and a maximum of $898.96.

The cryptocurrency is currently trading at around $401, having experienced a significant surge from the $50 level observed in July 2022. This surge can be attributed to the increasing interest in Monero, especially for its privacy features, leading to greater demand and, consequently, a rise in price.

If Monero continues on this trajectory and manages to break through the major price levels of $517.62 and $876.11, it could easily reach the predicted price of $898.96 by year-end 25. However, it's important to note that price predictions can vary widely, and these forecasts should be taken with a grain of salt.

On the other hand, Changelly predicts that the Monero price in 2025 will be about $183.69 to $292.40, with an average price of $401.10. This ranges from a 28.4% decrease to a