07:14
Monero Price Prediction: $400 Becomes the Dividing Line Between Bull and Bear, Next Target $420
Monero (XMR) experienced a slight correction last weekend, with the price declining approximately 4.09%, pulling back from around $419. This correction began in the $418–$420 range, which has repeatedly served as a key resistance level over the past six weeks. Previously, the market widely expected XMR to test $420 or even $450 after re-confirming the $360 support level. Currently, the $420 target has been validated, but the upward momentum is clearly lacking.
From a weekly chart perspective, Monero still maintains an overall bullish pattern. After dropping below $367 (the 50% Fibonacci retracement level), the price quickly stabilized and rebounded to around $419. Meanwhile, the RSI remains around 59, indicating that the medium-term momentum still favors bulls. However, the volume indicator OBV has issued a warning signal. Over the past 7 months, the OBV peaks have been steadily declining, forming a clear bearish divergence with the price, suggesting that the rally has not been supported by strong genuine demand. Such a structure is often difficult to sustain over the long term.