Monero Sets Eyes on $345 After XMR Powerful Breakout Above Ascending Triangle

The Monero price breaks above key resistance levels this Monday, jumping over 19% and extending last week’s impressive 9.33% rally. Traders are getting excited, watching this privacy-focused coin shake the market with strong momentum. Monero’s powerful rally isn’t just a fluke; solid technical patterns and on-chain strength support its growth. As privacy coins gain attention again, Monero is leading the pack. In today’s market, where many assets are stuck or struggling, XMR’s clear upward move is a breath of fresh air. Let’s dive into the details behind this breakout and what could be next for Monero fans.

Monero Price Breaks Ascending Triangle Pattern

One of the main reasons for the latest rally is that Monero broke above an important ascending triangle formation on the daily chart. This pattern has been forming since mid-November, connecting a series of higher lows with a strong horizontal resistance. Typically, when a breakout happens from an ascending triangle, it signals a continuation of bullish momentum. In Monero’s case, the breakout point was around $241.95. Breaking above this zone shows that buyers are firmly in control. The coin is now trading at $288, reflecting a 25.94% increase while maintaining the growth potential as shown in the chart below.

Chart 1- XMR/USDT Live Price, published on TradingView, April 28, 2025.

XMR Token Surge Eyes Target at $345

The current XMR token surge isn’t showing signs of slowing down just yet. After successfully breaking above the $241.95 breakout line, the technical setup now points toward a fresh target near $345.23. Analysts usually estimate targets by measuring the height of the triangle and projecting it upward. However, traders should stay alert around the $300 mark, as some profit-booking could happen there. Still, with Monero’s strong market structure, the path toward $345 looks very much alive. It’s an exciting time for XMR holders, as this privacy champion proves its resilience once again in a competitive crypto market.

Strong Open Interest Boosts Monero’s Bullish Case

Backing up the price action, open interest (OI) for Monero futures has shot up significantly. According to Coinglass, OI jumped from $20.13 million on Friday to $30.38 million on Monday, a fresh year-to-date high. A rising OI usually hints that new money is entering the market, fueling the rally. It’s another strong sign that the Monero price breaks are supported by real momentum, not just hype. In simple terms, traders are betting big on Monero’s future. 

Monero Price Breaks Into Overbought Territory

As exciting as the rally is, there’s something important to watch: Monero’s Relative Strength Index (RSI) has now climbed to 83 on the daily chart. Typically, an RSI above 70 signals overbought conditions. It doesn’t mean the rally has to end immediately, but it could cool off a bit. Traders might see minor pullbacks or sideways movement before the next leg higher. Still, strong breakouts like these often stay overbought longer than expected. If the breakout boundary at $241.95 flips into strong support, the bigger picture remains bullish. Coins like Monero tend to perform best when sentiment shifts fast, and right now, momentum is clearly favouring XMR.

What’s Next for Monero After This Breakout?

Looking ahead, the next few days will be critical for Monero’s price action. A successful retest of the $241.95 breakout level could build the base needed for a full push toward $345. If buyers remain strong, there’s potential for even higher moves later this quarter. The XMR token surge also strengthens Monero’s place among top privacy coins, especially as global regulatory talk around crypto intensifies. Traders should stay alert for possible dips, but overall, Monero’s breakout is sending a clear signal: this coin is back in the spotlight and ready to climb higher.