Monero has reached a new all-time high of above $716 after a strong intraday rally.
At press time, Monero traded near $707 at the time of writing, marking another session of aggressive upside momentum.
The token’s chart shows a steep vertical climb in the candle structure, highlighting strong buying pressure that continued through multiple sessions.
Market sentiment around Monero has also strengthened sharply on social platforms, and Santiment data shows high engagement that aligns with a strong fear of missing out.
Source: Santiment
Monero’s privacy advantage
Analysts note that such extreme sentiment often emerges near short-term tops. They point out that hype can inflate prices faster than demand can sustain them.
Privacy remains a central theme around Monero’s market behavior.
Cake Wallet CEO Vikrant Sharma has said the recent surge reflects rising appreciation for financial privacy. He stated that Monero provides default confidentiality at a time when monitoring and compliance rules are expanding.
Sharma added that delistings and restrictions reshaped market access. He said those pressures strengthened conviction among users who rely on censorship-resistant transactions.
However, concerns have surfaced over slower development activity within Monero’s ecosystem.
Analysts highlight that the pace of progress did not match the speed of the recent price climb. They warn that speculation can exceed fundamental advancement and such gaps in momentum often lead to corrective stages when expectations reset.
MFI spike highlights overheating in Monero’s rally
The most significant technical signal comes from the Money Flow Index (MFI). The daily chart shows MFI (14) at 91.23, placing Monero deep into overbought territory.
Source: TradingView
This is one of the highest MFI readings seen on the daily chart in recent months.
Often, an MFI above 80 matches periods when profit-taking intensifies.
The price rally has also propelled Monero past the psychologically important threshold of $700.
In case selling pressure increases, XMR may pullback to $600, although the market is likely to unwind violently, and as a result, it is possible that a stronger correction will go up to $560.
Nevertheless, the bullish momentum could continue in case buyers show dominance, and this could lead to a breakout above $720 or even $750.
Over the coming days, traders should cautiously track liquidity changes and market sentiments since these aspects will influence the future direction of Monero price movement.