Monero (XMR) broke above $700 today, signaling renewed bullish momentum in the privacy-focused cryptocurrency market. According to the crypto analyst, Rose Premium Signals, as of Jan 21, 2026, XMR reached its third profit target (TP3) at $445.65, marking a 250% gain from its initial breakout zone.
Source: X
Also Read: Monero Price Crash to $511.95: Will XMR Reclaim $560 Soon?
XMR Support Retest Points to $1,000 Rally
Moreover, another crypto analyst, Capo Of Crypto, revealed that after the week-long period of consolidation, XMR has successfully retested the key support level (S/R flip), making it clear that the buyers are defending the key areas.
This is very positive for the market, showing the potential for further momentum towards $1,000. Market analysts indicate that while some people will choose to take their profits, others will trail their stops in order to ride the momentum.
Source: X
To add more strength to the positive sentiment, the technical analysis is also showing more strength, which is indicating the possibility of XMR reaching $1,000 or more in the short run.
Analysts are also closely watching the volume and trend momentum, as a break above $1,000 can indicate the beginning of a major upswing. With strong fundamentals, Monero is possibly gearing up for the next major upswing.
Technical Outlook Suggests Strong Bullish Momentum
The momentum indicators point to the growing buying pressure, and it appears that XMR may move to $1,000 if the positive trend is maintained. Traders are monitoring the EMA supports at $418, $341, $280, and $228 to determine the strength of the trend. There may be some corrections, but the trend is strongly positive.
Source: TradingView
Monero has been showing a steady rise in the market since mid-2024 and has been breaking through all the major EMAs (20, 50, 100, and 200), which are now acting as strong supports. The widening Bollinger Bands also indicate increased volatility and a likely continuation in the rise. The first level of resistance stands at $562.
