Monero (XMR) has experienced a bullish resurgence this week, with trading volume exceeding $1.4 billion and funding rates turning positive, signaling trader optimism. Analysts are predicting potential gains above the $347 level, targeting a new all-time high near $420. The crypto asset saw its price rise above the key support of $314 after a dip last Friday. The increase is driven by robust trading activity and positive on-chain data indicating growing bullish sentiment among traders. This is further supported by technical indicators, such as the RSI, which currently stands at 53, suggesting momentum favoring bulls. If XMR maintains its momentum, analysts expect a retest of the July high near $357.66. However, if selling pressure returns, prices may pull back toward the 61.8% Fibonacci retracement level at $303.49. The market capitalization has also experienced a surge to $5.96 billion and is up over 5% in 24 hours. Analysts anticipate a significant breakout above its short-term resistance, potentially exceeding the $420 mark if sustained. A bullish crossover between the 50-day and 100-day moving averages may also support this rally. Monero’s resilience in the broader cryptocurrency market recovery is highlighted by these positive signals. This information should be considered for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research before making any financial decisions.