Monero (XMR) Price Prediction: Can Monero Price Keep The Bullish Momentum?

Monero (XMR) Price experienced significant growth in November, aligning with a strong month for privacy coins following the nullification of Tornado Cash sanctions.

Monero (XMR) price soared 21% in November, aligning with a strong month for privacy coins following the nullification of Tornado Cash sanctions.

The privacy coin sector saw a collective rise as all of the top five privacy coins recorded significant gains.

DASH led the surge with a 167% gain, highlighting the renewed market interest in privacy-focused assets as the regulatory landscape shifts.

Monero, the largest privacy coin by a substantial margin, experienced a 21% price increase during the month. XMR’s market cap remained أكبر بكثير than the combined value of the next four biggest privacy coins, solidifying its dominance in the space.

Monero DMI Chart Indicates Strong Trend, Setting Stage For Potential Price Surges

The Monero DMI chart showed a strong trend as its ADX climbed to 41.4, up from below 30 just a day ago, indicating that XMR was one of the biggest gainers among altcoins.

This sharp increase signaled a significant rise in the strength of the XMR trend, reflecting heightened market momentum.

The ADX (Average Directional Index) gauges trend strength, with values above 25 indicating a strong trend and below 25 suggesting a weak or consolidating market. In XMR case, the DMI chart showed D+ at 33.4 and D- at 10, indicating that buyers still had a strong advantage over sellers.

However, the decreasing D+ and increasing D- signaled that selling pressure was rising, which could slow XMR’s bullish momentum if the trend continued.

XMR Price Prediction: Can Monero Price Continue Bullish Momentum?

The EMA lines on the XMR chart were bullish, with shorter-term averages positioned above longer-term ones and the price remaining above the shorter-term lines.

This setup indicated sustained upward momentum, suggesting that the current uptrend could continue.

If this bullish trajectory held, Monero price could challenge the $217 resistance and potentially reach $220 and $225, levels not seen since May 2022.

However, the DMI chart signaled a possible trend reversal, which could bring XMR price down to test its nearest strong support at $166.