Monero Price Records a Surge, Pumps by 4% in Past 24 Hours

Monero Surged by 4%

Monero (XMR) has just entered the league of the top gainers coming into the ranks out of nowhere. There was no hype or craze about the asset in the recent sessions but it has emerged all of a sudden.

The entire investment market is surprised to see the asset make an entry all of a sudden. The entire Monero community is glad to see that the bulls have started to push the asset’s price higher after a long time.

The latest market data shows that the price of XMR has surged to a four-week high. This is a significant move that has been demonstrated by the asset in the recent session.

Due to the recent rally, Monero has entered the list of the top gainers in today’s session. As the day entered the mid-session, the trading price of XMR had hit the peak price at $163.10 per XMR.

Prior to the jump, the trading price of XMR was hovering at a lower figure. The asset price was at a low of $152.16 per XMR. The sudden change was recorded in the trading price of the asset in a matter of 24-hours.

The climb witnessed by the asset in the latest session was last witnessed back on February 20, 2023. At that time, the trading price of XMR had reached an even higher trading level at $168.70.

Monero has Cross the $155.00 Mark

Before the rally had been formed around the asset, it was hovering below the resistance level. The analysis report suggests that it was the key resistance level that was not letting the asset move higher.

Despite the efforts, the bulls failed to push the asset’s price higher than the resistance level. However, the bulls injected higher buying power in the latest session, which managed to push the asset’s price higher than expected.

The bears were in a state of shock when the bulls exerted stronger pressure into the rally. They kept pushing harder with their strong buying power, which eventually pushed XMR over the key resistance level.

From there, the bulls kept on building on the strong opportunity and they were able to cross the $160.00 mark.

RSI is Traveling above the Mid-Line

Even the RSI for the asset is moving in the higher zone. Prior to the rally, it was right on top of the mid-line. However, with the rally kicking in, the RSI was pumped and it managed to cross the ceiling level at 58.00.

From there, the RSI has remained above the ceiling and is currently at 58.84. At the time of writing, XMR is trading at a high of $160.65, which is still over the $160.00 mark.

If the RSI keeps moving higher, then the asset price will surge as well.