Monero rallies 35% to near $598 but indicators show fragile momentum

Beincrypto reports Monero (XMR) has surged more than 35% over the past seven days, reaching a fresh all-time high near $598 before sellers stepped in and left the price just below the price-discovery zone.

Underlying signals point to early exhaustion: Chaikin Money Flow remains above zero—indicating accumulation—but trended lower as price rose, helping explain the selling pressure at the peak. The Relative Strength Index has moved into overbought territory, a level last seen in early November before a roughly 33% correction. Social sentiment jumped from about 11.6 in late December to above 60 by January 11 (a rise of more than 400%), and exchange outflows—which signal net buying—have more than doubled from about $1.06 million to roughly $2.73 million.

Derivatives positioning is skewed toward longs, with cumulative long liquidation leverage on Bybit near $22.1 million versus about $5.4 million for shorts, a more than 4x imbalance that raises long-squeeze risk. The first notable support sits near $554, where long liquidations begin; a break below could accelerate liquidations toward $502 and $454 and, in a deeper unwind, toward $411. On the upside, Monero needs a clean daily close above the $593–$598 zone to neutralize liquidation risk and reset momentum; until that happens, strength remains real but increasingly fragile.

Key Topics

Crypto, Monero, Chaikin Money Flow, Relative Strength Index, Long Liquidations, Exchange Outflows