Bitcoin and altcoins saw strong double-digit price rebounds after this week’s brutal sell-off, but do technical charts forecast a longer-term recovery, or is today’s rally just a dead cat bounce?
Key takeaways
- XMR has hit an all-time high price of $716 after adding 4% to its value in the last 24 hours.
- The rally comes as privacy tokens have been recording gains since the start of the year.
XMR continues its rally, hits an ATH of $716
Monero (XMR) continued its excellent start to the year after hitting a new all-time high. The coin has added more than 4% to its value in the last 24 hours to hit an all-time high of $716 a few hours ago.
At press time, XMR has slightly retraced to now trade at $708 per coin. The rally means that XMR has added more than 50% to its value in the last seven days, outperforming other cryptocurrencies in the top 20.
Thanks to the ongoing rally, Monero is now the 12th-largest cryptocurrency, with a market cap close to $13 billion.
However, crypto analytics platform Santiment has warned investors that the rising FOMO surrounding Monero could be risky. According to Santiment, XMR’s social dominance peaked on Sunday, while development activity has declined.
“If you are looking for an entry point, consider doing so after social hype and FOMO wears off slightly,” Santiment added.
The coin is currently facing a retracement after hitting the all-time high price.
XMR could rally higher amid growing FOMO
The XMR/USD 4-hour chart is bullish and efficient thanks to Monero adding 50% to its value in the last seven days. The coin is trading at $708 per coin and could rally higher in the near term.
The momentum indicators are in the overbought region, which could result in Monero undergoing a correction.
The Relative Strength Index (RSI) of 84 shows that XMR is overbought, signaling heightened bullish momentum. Overbought conditions in the RSI often lead to a short-term correction, as evidenced by XMR’s recent moves.
The MACD lines are also in the bullish zone, adding more confluence to the market conditions.
If the rally continues, XMR could hit an all-time high of $750 or more in the near term. However, if the market undergoes a correction, the leading privacy coin could retrace towards the support level at $601.
Monero (XMR) has witnessed a sharp rally to a new record during the last few days, but social media suggests FOMO could be brewing in the market.
Monero Has Shot Up To A New All-Time High
Bitcoin and most other cryptocurrencies have been locked in consolidation recently, but Monero has been an outlier, with its price breaking away with a strong surge.
Below is a chart that showcases how the asset’s recent performance has looked.
The sharp rally has led to new all-time highs (ATHs) for the privacy-focused token, with the latest one coming earlier in the past day around $695. XMR has retraced a bit since this new high, but it’s still in a weekly profit of 51%, which is significantly higher than the returns of other top assets.
For perspective, Bitcoin and Ethereum have seen returns of +1% and -2% in this period, respectively. Fellow privacy coin Zcash (ZEC) was flying earlier, but the asset has faced a steep 23% drop during the same window.
Generally, rallies of the order that Monero has seen attract attention from traders, and data would confirm that the same has been true for the latest one as well.
XMR Has Seen A Peak In Social Dominance Recently
According to data from analytics firm Santiment, the Monero Social Dominance witnessed a spike recently. This indicator keeps track of the percentage of the Social Volume associated with the top 100 tokens that a given cryptocurrency is responsible for.
The Social Volume here refers to a measure of the total number of posts/comments/threads on the major social media platforms that contain mentions of a given asset. In other words, it tells us about the amount of discussion that a particular coin is receiving from social media users.
As such, the Social Dominance contains information about how the degree of talk surrounding a cryptocurrency compares against that of the top 100 coins combined.
Here is a chart that shows the trend in this metric for Monero since the start of 2026:
As displayed in the above graph, the Monero Social Dominance saw a huge spike on Sunday as the asset’s rally took off, suggesting social media interest in the asset shot up.
Historically, a rapid surge in the Social Dominance has often corresponded to Fear Of Missing Out (FOMO) developing among traders, which is something that tends to not end well for rallies.
Despite the crowd excitement, however, XMR has only continued to go up since the spike, setting new ATHs. Given the past pattern with digital asset markets, though, it only remains to be seen how long the coin can sustain its move.
