Yesterday, the Federal Reserve concluded several key meetings, including the FOMC Economic Projections and the FOMC Statement. The most notable outcome was the decision to cut interest rates, which provided a strong boost to financial markets.

Lower rates often translate into cheaper capital for financing and investment, leading many cryptocurrency market participants to ask: “Which coin or token could gain the most from this policy shift?”

Monero technical analysis

XMRUSD - 1 Day Time Frame

When analyzing the market for potential beneficiaries, one of the main criteria is whether the price trades below its all-time high, offering a form of discount while leaving room for possible appreciation. Monero currently fits this profile. If the price were to retest its all-time high, it could imply an increase of nearly 80%.

However, it should be noted that relying solely on a discount zone as a reason to enter the market can be risky. Therefore, technical entry conditions are considered critical.

The first factor supporting Monero’s case is the positive reaction to a previous support zone on the daily timeframe, originally established in June 2021. This reaction highlights the algorithmic nature of price delivery and challenges the view that market movements are entirely random.

Another key factor is a daily close above the most recent resistance zone, which has until now defined bearish price delivery. A confirmed close above this level could signal a potential continuation to the upside.

Monero price target

Risk management remains crucial. A protective Stop Loss could be placed below the internal low, as shown on the attached chart. On the upside, potential target zones include Buy-Side Liquidity areas, along with the major psychological level of $1,000.

These levels represent points where market participants may look to secure partial or full profits if bullish momentum continues.