
Monero (XMR) is showing renewed strength after bouncing from key support and climbing over 6% on the day. Trading volume is also up by 11.32%, as XMR ranks among the market’s top gainers. Meanwhile, excitement is building around Qubic, which has quickly emerged as one of the largest Monero mining pools in just two weeks.
With Monero price now trading at $345.42, traders are asking if this is the start of another rally, or a temporary recovery before another leg down.
What you'll learn 👉
What the Chart and Indicators Are Saying
XMR price had been rallying inside a well-defined ascending channel from March through May before breaking below the channel in early June. That move hinted at fading momentum, but price quickly found support in the $320–330 zone, the same area as the former lower boundary of the channel.
Now, Monero price is trying to reclaim that channel from below. If bulls can push the price above $360 and then $370, the trend may resume toward $400 and beyond. But if it stalls again, sellers could target support near $300, with the 200-day EMA at $241.49 offering longer-term protection.

On the daily timeframe, the RSI sits at 51.92, down from mid-May overbought levels. The indicator shows that momentum has reset without turning bearish, and a slight bullish divergence is forming as price makes lower lows but RSI makes higher lows.
Where Momentum Indicators Stand
Short-term indicators are pointing upward. The MACD (12,26) is positive at 4.795, signaling bullish momentum on the hourly chart. The CCI (14) is moderately strong at 60.09, showing positive pressure without being overbought. The Ultimate Oscillator is above neutral at 51.387, while the Rate of Change is at 2.324%, confirming recent upside.
Bull/Bear Power (13) reads 7.0796, reflecting strong bullish control in the short term. Together, these indicators suggest that XMR could continue moving higher, especially if buyers defend the $330 level.
Indicator | Value | Interpretation |
MACD (12,26) | 4.795 | Strong short-term bullish crossover |
CCI (14) | 60.0983 | Moderate upward momentum |
Ultimate Oscillator | 51.387 | Mild buying pressure above neutral |
ROC | 2.324 | Recent bullish price acceleration |
Bull/Bear Power | 7.0796 | Bulls have near-term dominance |
Moreover, a tweet from a community member noted that Qubic has become the fourth-largest Monero mining power just two weeks after releasing its Proof of Concept. Despite being an early version, the project is already mining both Monero and TARI simultaneously, showcasing its ability to handle multi-chain mining.
$Qubic is now the #4 largest Monero ( $XMR ) mining power after only 2 weeks.
— I’m next on the line ױ (@cryptoradar92) June 1, 2025
This is absolutely insane. Most people here don’t realize it yet because they’re not techies, but achieving this with just a Proof of Concept is wild.
In Software Engineering, a PoC (Proof of Concept)… pic.twitter.com/FgV9bQ7Dfd
This performance may attract institutional miners and developers, adding further strength to the Monero network and increasing long-term confidence in the asset’s stability and decentralization.
Monero (XMR) Price Forecast
XMR must hold above $330 to keep short-term bulls in control. If Monero price breaks above $370 with strong volume, the move toward $400 could resume. However, a failure to clear resistance may trigger a drop to $300 or even $275.
So, is it too late to buy XMR?
Not yet. But the easy gains may have passed for now. Traders may prefer to wait for confirmation, either a clean breakout above resistance or a successful retest of support, before entering.
Read Also: XRP Price Doesn’t Need to Hit $10,000 to Change Your Life, Says Angel Investor
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