Monero rebounds from $330 lows as bulls eye major breakout
Monero (XMR) traded around $352 on Thursday after recovering from recent lows near $330, even as Bitcoin, Ethereum and several major cryptocurrencies remained under pressure. Recent gains have coincided with renewed interest in privacy-focused digital assets. Market observers have pointed to capital rotating away from large-cap cryptocurrencies and into sectors supported by distinct use cases, allowing privacy coins to outperform during the latest market downturn. Among those beneficiaries, Monero has drawn attention following a major network upgrade that strengthened its privacy model and reignited interest in the asset's long-term utility. Privacy upgrade continues to support sentiment The recent rally has been partially supported by Monero's Full Chain Membership Proofs, or FCMP, initiative and the related FCMP++ framework introduced through the Carrot testnet. The upgrade replaces Monero's previous ring signature design, which relied on 16 decoys, with a system capable of proving transaction validity against the network's entire history. Supporters of the proposal have argued that the change expands the anonymity set to more than 150 million outputs while addressing concerns raised by previous research into transaction tracing techniques. Interest surrounding the rollout helped push XMR to a local high above $437 in early May as traders positioned ahead of the upgrade. However, after the initial surge, profit-taking activity emerged and pulled the token back toward key support levels. Technical indicators point to key levels ahead Chart data shows Monero rebounding after testing a demand zone near $330 to $355. On the 4-hour timeframe, price recently bounced from the lower Bollinger Band while the MACD indicator produced a bullish crossover and moved back into positive territory, suggesting buying momentum has improved in the short term. XMR/USD 4-hour price chart. Source: TradingView. Despite that recovery, the daily chart still presents obstacles for bulls. XMR remains below its 20-day, 50-day, 100-day and 200-day exponential moving averages, which are clustered between roughly $370 and $375. Technical traders often view such areas as significant resistance zones. XMR/USD 1-day price chart. Source: TradingView. Liquidation data from CoinGlass also highlights substantial concentrations of leveraged positions around those levels. XMR 24-hour liquidation heatmap. Source: Coinglass. The largest nearby upside liquidity cluster sits between approximately $370 and $375, while additional liquidation pockets are visible near $380 and above. On the downside, CoinGlass data shows one of the largest liquidity zones between $343 and $345, with further clusters extending into the $330 region. Those levels could attract attention if selling pressure returns. Beyond the immediate technical picture, Monero continues to benefit from demand among users seeking transaction privacy and censorship resistance. Supporters of privacy-preserving cryptocurrencies have argued that tighter regulatory scrutiny of anonymous financial activity in several jurisdictions has reinforced the appeal of decentralized alternatives rather than reducing interest in them. For now, market participants appear focused on whether Monero can reclaim resistance near $370. A successful move above that area would place the next major liquidity pockets in view, while failure to hold current support could push the price toward the heavily populated $343 to $345 liquidity zone, with additional downside interest concentrated around the $330 area, according to CoinGlass data. The post Monero rebounds from $330 lows as bulls eye major breakout appeared first on Invezz