Monero (XMR) Nearly Doubles From July Low — Is $700 Next?

Monero (XMR) has built a strong recovery since its July low near $310, nearly doubling in value as the rally carried the token above $600 in September. Since then, the pace of the advance has slowed, with XMR entering a period of consolidation at significantly higher price levels.

With the token now trading around $543, the focus is shifting toward whether buyers can continue defending the newly established support area and prepare for another move higher, or whether the current consolidation could develop into a deeper correction.

Monero (XMR) technical analysis

XMRUSD - 1 Day Time Frame

The latest price action has created a daily support zone approximately between $510 and $535. XMR has already reacted from this region several times, while the current price near $543 remains directly above it. This area now forms the technical base of the latest bullish leg. Continued trading above the zone could help preserve the September structure and leave room for another attempt to challenge the recent highs.

September produced a much stronger bullish impulse, with XMR briefly trading above $600. Since then, volatility has shifted into a narrower range, largely between the $510–$535 support zone and the $575–$600 area. This change in price behavior is important. While XMR is no longer advancing at the same pace, buyers have so far managed to defend the higher trading range rather than giving back a substantial portion of the previous rally.

The current consolidation could therefore remain consistent with the broader bullish structure. A sustained move below the $510–$535 support zone, however, could weaken the latest setup and increase the possibility of a deeper correction.

Monero (XMR) price target

If bullish momentum strengthens again, the nearest major Buy-Side Liquidity target is located around $650. This level sits above the September high and represents the first significant upside objective if XMR breaks out of its current range.

Beyond $650, additional liquidity areas are positioned around $715 and $800. These higher levels originate from previous historical highs and would become increasingly relevant if XMR manages to clear the current September structure.

For now, the technical setup remains centered on the $510–$535 support zone. Holding this area could preserve the broader bullish structure and keep another move through the recent highs in play. A renewed expansion above the $575–$600 area could shift attention toward $650, followed by $715 and $800 if bullish momentum continues to develop.

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