Is the discourse on privacy gaining momentum again? Monero (XMR) is up 30.51% since hitting a local low at $313.32 on Friday, April 3.
Interestingly, ZCash (ZEC) and Dash (DASH), the popular privacy tokens, are up 30% over the past week, according to CoinMarketCap.
Like ZCash, Monero saw an explosive high in recent months and a deep retracement in February. Both privacy tokens broke local highs and were on track to recover.
Some traders believed that last week’s ZEC and DASH gains would soon be converted to XMR, causing prices to rise more aggressively. For now, traders should resist FOMO, but a buying opportunity appears to be within reach.
The end of the Monero retracement
After falling below the 78.6% Fibonacci retracement level during the February crash, Monero did well to climb higher. Bitcoin’s (BTC) bullish momentum, accompanied by market disbelief and profit-taking, has likely also boosted altcoin sentiment.
In terms of scale, Monero’s rally is comparable to that of BTC since February. However, the longer-term swing structure for the privacy coin was bullish, while it was bearish for the market leader.
The breakout of the local (green) high at $382.12 on Tuesday April 21 was a positive sign for the bulls. Towards the end of April, buyers flipped this level towards support and maintained the current move higher.
The RSI on the 3-day chart was on the verge of breaking above 60 to signal strong bullish momentum, and the CMF was at +0.09 to indicate stable capital inflows.
Here’s why the rally could extend another 6%
Breaks of the H4 bullish structure are marked in green. Using Fibonacci levels again for the latest bullish move, $417 and $435 were plotted as XMR’s next short-term price targets.
In the coming weeks and months, the privacy coin can reach $500 and even the all-time high of $799 if there is sustained demand and a narrative surge later in 2026.
Final Summary
- Monero has a bullish structure over different time frames, and the rally is likely to extend higher.
- In the short term, traders can expect the upward movement to reach $435.
