XMR Hits New All-Time High, What’s Driving the Rally?
Share:
Monero (XMR) reached a new all-time high of $608, breaking through long-term resistance between $460-$480. Open interest in XMR derivatives surged to a record $150 million, indicating increased trader interest and leverage in the market. This rally has sparked heightened social and search activity centered on Monero and Dash.
Predictions Markets
See what traders are focused on
- XMR cleared the long-term resistance near the $460-$480 zone.
- Open interest hit a record $150 million, showing fresh leverage entering the market.
- Social and search activity surged after the breakout, led by Monero and Dash.
Monero pushed to a fresh all-time high near $608 after a sharp eight-day move higher. Price is now well above prior resistance from the $460-$480 zone, which had capped upside through most of 2024.
The weekly chart shows a clean breakout from an ascending channel. Momentum accelerated once price cleared the mid-$500s, with follow-through buying into the $600 area.
Leverage and Attention Rise Together
Open interest on XMR derivatives has reached a record $150 million. For an asset with roughly $11 billion market value, leverage remains moderate, but the direction is clear. Traders are adding exposure, not cutting it.
Read The Full Article XMR Hits New All-Time High, What’s Driving the Rally? On Coin Edition.
Read More
Hong Kong builds a gold and yuan network that sidesteps dollar stablecoins
