- Momentum is accelerating
- Will it be the next Zcash?
Monero is currently staging one of the most significant technical breakouts in its history
The privacy coin is knocking on the door of an all-time high (ATH) that has stood since the height of the bull run after close to a decade of consolidation
For most major cryptocurrencies of the likes of Bitcoin, the 2018 cycle highs are a distant memory, broken long ago in 2021. Monero is different. Its all-time peak of $542.33 was set on Jan. 9, 2018.
Momentum is accelerating
According to trade Josh Olszewicz, XMR currently has the best-looking chart in crypto
The privacy coin has now formed a textbook ascending triangle, which is typically viewed as a bullish continuation pattern
The top dotted line represents a fierce resistance zone around $475–$520.
This level marks the all-time highs (ATH) from the 2017 bull run and the 2021 double-top.
For nearly 8 years, sellers would step in and push the price of XMR back down.
The price is currently squeezed into the very apex of the triangle. The distance between support and resistance has narrowed. Hence, it is likely that a decision could be in the offing
The more times a resistance level is tested (knocked on), the weaker it becomes. This is XMR’s third major attempt to break the $500 region on the monthly timeframe. If it succeeds, there is no historical resistance above this level.
A monthly close above the $520 level would confirm the breakout.
Will it be the next Zcash?
Zcash (ZEC) entered the year as the “breakthrough” darling. The privacy coin suddenly soared by more than 750% in virtually no time. However, the narrative faced a severe stress test last week, with the entire team at the Electric Coin Company (ECC) calling it quits due to governance disputes
Now that Zcash is enmeshed in an internal drama, Monero has seemingly capitalized on the chaos.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitwise Sees Bullish Setup for Bitcoin Despite Escalating Geopolitical Shockwaves
Bitcoin faces mounting pressure from escalating geopolitical tensions, yet Bitwise says extreme risk spikes have historically preceded strong medium-term gains, positioning the cryptocurrency for a potential rebound as macro liquidity and inflation dynamics evolve.
Bitwise Emphasizes Bullish
Coinpedia18m ago
【Morning Market Brief】 Cryptocurrency market fluctuates... Bitcoin $68,929, Ethereum $2,041
The cryptocurrency market trend is mixed, with Bitcoin and Ethereum rising by 4.50% and 4.47% respectively. Mainstream competing coins are showing divergence, with a total market value of approximately $2.75 trillion. Both the DeFi and stablecoin markets have experienced growth, and derivatives trading volume remains active.
TechubNews4h ago
Bitcoin Holds $66,000 as Market Braces for March Rebound
Tom Lee predicts a March rebound for crypto and US stocks as Bitcoin stabilizes at $66K amid geopolitical tensions. Despite market volatility and rising oil prices, he expects economic growth to support recovery in risk assets.
CryptoBreaking4h ago
Michael Saylor Buys 3,015 BTC as War Fears Shake Markets
_Michael Saylor’s Strategy buys 3,015 BTC for $204M, extending its streak to 10 weeks as Bitcoin holds above $65K amid U.S.-Iran tensions._
Michael Saylor Buys 3,015 BTC as War Fears Shake Markets, as Strategy added more Bitcoin while global tensions weighed on risk assets.
The purchase came a
LiveBTCNews5h ago
Dogecoin Price Compresses Near $0.10 as Open Interest Drops
Dogecoin is currently trading between $0.0964 and $0.1005, indicating tightening volatility with reduced open interest. Recent exchange flows show stabilization near the $0.10 psychological level, signaling cautious trader positioning and the potential for significant price movements based on defined support and resistance levels.
CryptoNewsLand5h ago
Crypto Market Slides as Bitcoin Falls on War Tensions
Key Insights
Bitcoin dropped to $63,000 as U.S.-Iran strikes triggered rapid risk-off flows across digital asset markets within hours of confirmation.
The total crypto market cap fell to $2.21 trillion, reflecting a 5.49% daily contraction amid heightened volatility and reduced
CryptoFrontNews5h ago
