Monero ( XMR ) continued its rebound in August, with a daily increase of about 5%, and the price broke through $450. Foreign media quoted analysts as saying that XMR has broken through the range of $420 to $430 that has been suppressing it for months, and the short-term focus is now shifting to the more critical level of $475.
Breakthrough of several months of resistance zone
In the previous few months, XMR faced resistance around $420 to $430 several times and was unable to form a sustained upward trend. As the buying pressure absorbed the selling pressure above, the price further rose above $450 and approached the $475 range.
This also means that XMR has moved from its previous range fluctuations into a higher trading range. Next, the area between $450 and $475 will become the core zone for short-term bullish and bearish contention. If the price can remain stable within this range, it indicates that the market is absorbing profit-taking positions, rather than just being a short-term chase for gains.
THORChain Progress Brings Liquidity Expectations
In addition to price factors, the liquidity infrastructure of Monero has also attracted attention. Reports indicate that after the recent upgrade of THORChain, a framework has been established for the native exchange of XMR. This means that in the future, Monero is expected to be able to exchange directly with other mainstream crypto assets without relying on wrapped assets.
For XMR, this is particularly important. Due to the limited liquidity available on centralized platforms, native, unmanaged exchange channels are seen as a way to supplement transaction paths, while also retaining the user's self-management features.
However, this feature has not yet been officially and fully enabled. THORChain still gives priority to network stability; therefore, this development is more appropriately seen as a catalyst for medium to long-term liquidity rather than direct evidence of an immediate increase in buying interest at the moment.
$475 is the next key level.
Foreign media quoted analysts as saying that what is more noteworthy on the current chart is not $450, but rather $475. The analyst believes that XMR is forming an "Adam and Eve" bottom pattern, which involves a rapid reversal first, followed by a longer period of arc-shaped recovery, before ultimately returning near the neckline.
According to this judgment, if the price effectively breaks through and stabilizes at $475, the pattern can be truly confirmed, and $500 will become the next important psychological barrier. If it continues to rise, the market will also watch the $550 to $575 range.
However, the article also mentions that there are already signs of overheating in the short term. The XMR daily chart shows a RSI of around 76, which is in an overbought zone. If the price falls back to around $450 but can still hold that level, the overall rebound structure can be maintained; if it falls back below $420 to $430 again, the recent breakout may be considered a false breakout.
Looking at a longer period, analysts predict a target price of around $800, but this judgment is based on the premise that $475 can be effectively broken through and maintained. At present, this remains a technical projection for a longer time frame.
