XMR Eyes Big Move from Key $490 Support Level

Key Insights:

• XMR is holding near the $490 weekly support, a key pivot traders are watching closely.
• Price failed to reclaim $560, keeping resistance active and limiting the current rebound attempt.
• A break below $490 risks a move toward $449 support, while bulls target $600–$650.

Monero (XMR) was trading just above a key level near $490 after falling nearly 35% from its recent high of $800.87. This level lines up with the 50% retracement from the broader move and has held as a pivot point multiple times in the past three months.

On the weekly chart, the current candle shows early signs of buying interest just above this level. Enri.hl, a trader following the pair closely, noted, 

“The strong 490 area is acting as key support on the weekly chart,”

However,  adding that it has often triggered fast moves after both bullish and bearish candles.

$560 Resistance Still in Place

XMR recently bounced after touching the $480–$490 zone but failed to break above the $560 level, which had previously acted as trend support. This area now acts as resistance and capped the recent attempt to reverse.

According to Ardi, 

“Price attempted to reclaim the ~$560 trend support it lost, but fell short.” 

Without a move above this level, the market remains in a downtrend or sideways phase. A close above $560 could allow for a test of the $600 to $650 area, which has served as resistance in earlier sessions.

Market Activity Increases at Lower Levels

Trading volume picked up during the recent drop, showing higher activity around the $490 area. Some traders suggest this may signal a shakeout, where weaker hands exit and stronger buyers step in. Momentum remains mixed. Weekly indicators such as RSI are still above 60, suggesting some strength is intact despite recent losses.

On lower timeframes, the trend is still weak, and signals remain red. Strength needs to return before a clear shift in direction can be confirmed.

Next Levels to Watch

The $490 area remains key. If buyers continue to hold this level, price may attempt to push through $560. Above that, $600–$650 becomes the next focus. If $490 breaks, the next support is around $449, near the 61.8% retracement.

For now, price action is centered around $490. Whether this support holds or breaks is likely to shape the next move for Monero in the near term.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.