Monero Price Today Nears $420, Extending Rebound as Buyers Regain Control
Monero (XMR) price today trades near the $420 mark, extending its strong recovery after buyers reclaimed control and broke above the rising trendline that has been guiding the structure since early September. This rebound is supported by significant inflows and a shift in momentum, signaling renewed bullish interest in the cryptocurrency.
Buyers Step In as Inflows Accelerate
Data from Coinglass reveals $1.38 million in inflows on November 15, marking the strongest single-day accumulation in over a month. This consistent buying pressure reflects a change in XMR’s flow profile over the past week, as investors showed renewed interest. The price reclaimed the mid-trend region and moved toward the upper boundary of the long-running consolidation zone, further supporting the bullish case.
Breakout Rally Retests Key EMA Cluster
On the daily chart, Monero exhibits a clean bullish structure. XMR is trading above all major Exponential Moving Averages (EMAs):
– 20-day EMA at $367.67
– 50-day EMA at $340.13
– 100-day EMA at $321.30
– 200-day EMA at $300.59
All four EMAs are sloping upward and forming a stacked bullish configuration, which underpins continued upward momentum. Moreover, the Supertrend indicator has flipped green and currently sits near $325, reinforcing a broader trend shift from neutral to bullish.
In early November, XMR reclaimed the Ichimoku cloud and is now trading well above it. This cloud acts as dynamic support between $340 and $360; as long as the price holds above this zone, the broader bias remains constructive.
Key Resistance and Support Levels
The major horizontal resistance sits at $440, a zone that has rejected multiple rally attempts earlier this year. A decisive break above $440 would confirm that Monero has completed its long consolidation phase and open the path toward higher targets in the $455–$470 range.
On the support side, the rising trendline from the September low remains the most important structural support. Buyers are likely to defend this trendline if the price revisits it. Additional support levels are near $392 and $380, which coincide with recent swing lows and intraday Supertrend levels.
Intraday Momentum Holds Steady with Bullish Signals
On the 30-minute chart, intraday momentum remains firm. Price trades near $420, with the Parabolic SAR signaling strength by flipping below the price at around $425, indicating continued upside bias. The Relative Strength Index (RSI) is near 59, maintaining a constructive stance without approaching overbought territory.
The recent rally pushed the price up to $430 before a mild pullback. However, higher lows have formed across multiple sessions, suggesting buyers are active on dips and the breakout momentum remains intact.
Short-term resistance lies between $428 and $432, followed by the key barrier at $440. A breakout above $432 could accelerate momentum, leading to a direct retest of the range high.
Outlook: Is Monero Poised for Further Gains?
A breakout above $440 would confirm renewed trend strength and open the door toward targets between $455 and $470. For this move to sustain, inflows would need to remain positive, supporting bullish momentum.
Conversely, a close below $392 could weaken the current structure and increase the risk of a deeper decline toward $360 and the ascending trendline.
In summary, Monero’s price action and flow data indicate a bullish setup, but traders should watch key resistance and support levels closely for confirmation and risk management.
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