Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Technical Analysis

Monero Price Forecast: XMR soars over 19% amid rising demand for privacy coins

Source Fxstreet

Monero price extends its gains on Monday after rallying 9.33% the previous week.
On-chain metrics paint a bullish picture, with open interest reaching its highest level since December 20.
The technical outlook suggests a continuation of the rally with a target of $345.

Monero (XMR) price is extending its gains by 19% at the time of writing on Monday, following a 9.33% rally the previous week. On-chain metrics support this price surge, with XMR’s open interest reaching its highest level since December 20. The technical outlook suggests a bullish breakout and continuation of the rally, with a target of $345.

Monero could surge as it breaks above the ascending triangle formation

Monero price breaks above the ascending triangle formation on the daily chart, rallying over 19% at the time of writing on Monday. This pattern was created by drawing two trendlines from mid-November, connecting swing points on the daily chart between multiple higher lows and multiple equal highs.

This technical pattern breakout favors the bulls, and the target is generally obtained by measuring the distance between the first daily high and the first daily low to the breakout point.

If the breakout level is retested and support is found around the daily level of $241.95, XMR could rally toward its technical target of $345.23. However, traders are suggested to book profits around the $300 level.

The Relative Strength Index (RSI) momentum indicator on the daily chart reads at 83, above its overbought level of 70, suggesting the ongoing rally could face cooling pressures. However, the bullish momentum remains strong.

XMR/USDT daily chart

Monero’s open interest reaches its highest year-to-date

Monero’s Open Interest (OI) further supports the bullish outlook. Coinglass’ data shows that the futures’ OI in XMR at exchanges rose from $20.13 million on Friday to $30.38 million on Monday, reaching a new year-to-date (YTD) high. An increasing OI represents new or additional money entering the market and new buying, which suggests a rally ahead in the Monero price.

XMR open interest chart. Source: Coinglass

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Dollar presses 102 as the 10-year yield sits at 5.14% — and October hike odds are only 17%The dollar index closed at 101.99 (+0.20%) on Monday after briefly topping 102.07, while the 10-year Treasury yield rose to 5.14% and the 2-year hit 4.774% — yet futures price only about a 17% chance of a hike at the October 27-28 FOMC, versus roughly 90% for December. The driver is a global bond selloff, not a Fed repricing: France's 10-year OAT jumped to 4.84% ~ 4.94% and the OAT-Bund spread widened to 140 ~ 146bp. Here are the levels, the cross-asset read-through and what to watch.

Author Irene Q.

Oct 20, Tue

The dollar index closed at 101.99 (+0.20%) on Monday after briefly topping 102.07, while the 10-year Treasury yield rose to 5.14% and the 2-year hit 4.774% — yet futures price only about a 17% chance of a hike at the October 27-28 FOMC, versus roughly 90% for December. The driver is a global bond selloff, not a Fed repricing: France's 10-year OAT jumped to 4.84% ~ 4.94% and the OAT-Bund spread widened to 140 ~ 146bp. Here are the levels, the cross-asset read-through and what to watch.

Tesla Q3 Earnings Preview: Can Auto Margins Stabilize? Wall Street’s Highest Price Target at $550 Tesla (TSLA) will report its third-quarter 2026 financial results after the U.S. stock market close on October 21, Eastern Time, and host an earnings conference call at 17:30 that day. Th

Author TradingKey

Oct 20, Tue

Tesla (TSLA) will report its third-quarter 2026 financial results after the U.S. stock market close on October 21, Eastern Time, and host an earnings conference call at 17:30 that day. Th

The Dow gained 500 points and the two AI names that matter fell after hours — Netflix's guide is the tell The Dow closed 529.85 points higher at 52,495.88 (+1.02%) and the VIX fell 6.13% to 17.31, but the two stocks that carry the AI trade moved the other way after Tuesday's close: Netflix slipped to $64.74 (-5.8%) after guiding Q4 EPS of $0.67, below the street, while SpaceX jumped about 8% to near $160 on its first profit as a public company and revenue up 161%. Netflix is now below its 52-week low of $65.08. Here are the numbers, the $65 / $70 levels and the two catalysts that matter this week.

Author Irene Q.

Yesterday 05: 56

The Dow closed 529.85 points higher at 52,495.88 (+1.02%) and the VIX fell 6.13% to 17.31, but the two stocks that carry the AI trade moved the other way after Tuesday's close: Netflix slipped to $64.74 (-5.8%) after guiding Q4 EPS of $0.67, below the street, while SpaceX jumped about 8% to near $160 on its first profit as a public company and revenue up 161%. Netflix is now below its 52-week low of $65.08. Here are the numbers, the $65 / $70 levels and the two catalysts that matter this week.

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 22, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 22, 2026. Read on for the details.

Author Mitrade

7 hours ago

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 22, 2026. Read on for the details.

The Fed will sit still on October 28 — but 100 of 100 economists now expect a December hike A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Author Irene Q.

3 hours ago

A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Popular Symbols