{"id":1742,"date":"2025-06-02T15:40:10","date_gmt":"2025-06-02T15:40:10","guid":{"rendered":"https:\/\/bitunikey.com\/news\/monero-price-eyes-500-but-420-stands-as-the-next-key-hurdle\/"},"modified":"2025-06-02T15:40:11","modified_gmt":"2025-06-02T15:40:11","slug":"monero-price-eyes-500-but-420-stands-as-the-next-key-hurdle","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/monero-price-eyes-500-but-420-stands-as-the-next-key-hurdle\/","title":{"rendered":"Monero price eyes $500, but $420 stands as the next key hurdle"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Monero price rose for three consecutive days as investors bought the dip following last week\u2019s crash.\u00a0<\/p>\n<p>Monero (XMR) climbed to $365, its highest point since May 28, and now sits 16% above its lowest level from last week.<\/p>\n<p>The rebound happened even as Bitcoin (BTC) and other cryptocurrencies wavered. It happened as the demand for privacy coins like Horizen (ZEN) and Zcash (ZEC) jumped.\u00a0<\/p>\n<p>On-chain data shows that Monero\u2019s exchange outflows surged to $8.9 million last week\u2014the largest jump this year. Exchange outflows typically indicate that investors are moving tokens into self-custody, a potentially bullish signal.<\/p>\n<p>Monero\u2019s funding rate has remained positive since May 15, suggesting that traders expect future prices to be higher than the current spot price. A positive funding rate is often viewed as a bullish catalyst, as crypto.news reported<strong>.<\/strong><\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Monero token has been in a strong bullish trend in the past few months after spending three years in a consolidation phase. This rebound happened after a US court ruled against the Treasury Department for sanctioning Tornado Cash, a crypto mixer. The department was then forced to remove sanctions earlier this year.<\/p>\n<p>XMR\u2019s momentum further accelerated after hackers reportedly used the coin to move over $300 million in suspected stolen funds. Monero is considered ideal for illicit transactions due to its privacy-enhancing features, including ring signatures, stealth addresses, and ring confidential transactions.<\/p>\n<p>These technologies ensure transaction anonymity. For example, ring signatures obscure the sender by blending their signature with decoys, while stealth addresses generate a one-time address for each transaction, further masking recipient details.<\/p>\n<h2 class=\"wp-block-heading\">Monero price technical analysis<\/h2>\n<figure class=\"wp-block-image size-full\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14385139\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">XMR price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily chart shows that XMR has been in a sustained bull run since February 2024, when it was trading at $100.90. The token remains above both the 50-day and 100-day Exponential Moving Averages.<\/p>\n<p>It has rebounded to $366 from last week\u2019s low of $312. The Relative Strength Index and the MACD have all pointed upwards.\u00a0<\/p>\n<p>For the rally to continue, Monero must break above resistance at $420, its highest point this year. A successful move above this level would invalidate the double-top pattern, whose neckline sits at $312, and could signal a further rally toward $500. Conversely, a drop below the $312 support would invalidate the bullish outlook.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Monero price rose for three consecutive days as investors bought the dip following last week\u2019s crash.\u00a0 Monero (XMR) climbed to $365, its highest point since May 28, and now sits&hellip;<\/p>\n","protected":false},"author":1,"featured_media":357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=1742"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1742\/revisions"}],"predecessor-version":[{"id":1743,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1742\/revisions\/1743"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/357"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=1742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=1742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=1742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}