Monero (XMR) has staged a notable comeback, rallying roughly 17% over the past week after Bitcoin managed to hold above the $60,000 mark. That support level gave the broader market some breathing room, and XMR took full advantage.
The bounce wasn’t just about Bitcoin sentiment, though. A massive cluster of short positions around $340 got squeezed hard, which added fuel to the move. If XMR follows the same pattern it’s shown throughout 2026 — bouncing off the $300 level and climbing toward the 200-day moving average — we could see the recovery extend from 17% to as much as 33%. That 200-day SMA currently sits around $391, and it’s been a recurring ceiling for XMR rallies this year.
Of course, a lot depends on Bitcoin staying above $60K. If BTC slips again, Monero could be in for a rougher ride — some analysts even warn of a 2022-style correction. But for now, the RSI is climbing and the short squeeze has cleared out weak hands. The bulls are in control, at least for the moment.
