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In Brief
- Monero (XMR): Trades near $629 after breaking above the September peak near $635, with the RSI near 70.
- Stellar (XLM): Trades near $0.1777 below all major moving averages, with support at $0.172.
- Bitcoin (BTC): Trades near $81,500 after rejection at $84,000, with $80,000 the key support.
- Hyperliquid (HYPE): Trades near $78.17, testing key support near $77.60 after a 20% drop.
Monero (XMR) Trades Above September High as Rally Extends
Monero is one of the strongest charts in the market right now. XMR trades near $629 after a daily range between $604 and $656. The coin has more than doubled from its July low near $300, and the trend is still pointing up.
The main news is the move above the September peak, which sat near $635. That level stopped the price in mid-September, and now XMR is trading on top of it. A daily close above this area would confirm the breakout.
The price also tested $656 during the day and pulled back. That upper wick suggests some sellers are active near this level. It is a small warning, but not a reason to call the trend broken.
All the major moving averages slope upward and sit below the price. The short-term ones are near $565 and $548, the medium one is near $538, and the longer ones are near $492 and $443. The wide gap between the price and the long averages shows how fast this rally has been.
A strong trend like this usually pulls back to the fast averages before moving higher. The $565 to $540 area is the first place where buyers may step in.
The RSI is near 70, which is the edge of overbought territory. This means the move is strong, but it may pause or cool down. Volume has risen over the past few days, which supports the breakout.
On the upside, $656 is the first target, followed by $700. The January high near $800 is the major resistance above. On the downside, $565 is the first support, then $540 and $490.
If XMR holds above $635, buyers stay in control. A fall back below it could turn this breakout into a failed move.
Stellar (XLM) Slips Under $0.18 as Sellers Hold the Trend
Stellar is moving in the wrong direction for now. XLM trades near $0.1777 on Binance, down from an open of $0.1838. The daily range was tight, between $0.1768 and $0.1845, and buyers have not been able to sustain any bounce.
The price fell from approximately $0.237 in late September to the current level, a drop of approximately 25%. XLM now sits below all of its major moving averages, which are clustered between $0.19 and $0.196. This cluster is now resistance.
Every attempt to move up will first need to clear this area. Until that happens, rallies are more likely to fade than to turn into a trend.
The nearest support is $0.172, where the price bounced earlier this week. That low has held so far, but the price is sitting only approximately 3% above it. A clean break below it might open the way to $0.17 and then to the August low near $0.1525.
The RSI is near 38, below the midpoint of 50. This suggests sellers have the upper hand, although it is not yet oversold, so there is room to fall further. Volume has also stayed low in recent weeks. Low volume means few traders are showing strong interest, which keeps the price stuck in a slow drift.
If XLM bounces, the first target is $0.19, followed by $0.20 and then $0.22. A move back above $0.19 would be the first sign that the downtrend is ending. If it fails to hold $0.172, the price could slide toward the lower end of its summer range.
For now, the safer view is that XLM needs a strong volume spike before the trend changes.
Bitcoin (BTC) Rejected at $84,000
Bitcoin trades near $81,500 after a rejection from the top of the day's range. BTC opened near $84,000, touched $84,294, and then dropped to a low of $81,483. The red candle erases the previous day's gains and suggests that sellers are still active above $84,000.
Since mid-September, Bitcoin has moved in a wide range. The top sits near $87,000, where the price failed twice, once in September and again in early October. The bottom sits near $80,000, where buyers stepped in at the start of this month. The price is now close to the bottom of this range.
Each bounce has been weaker than the last, and the highs are getting lower. That is a small sign of fading strength.
The shorter averages are bunched between $80,800 and $82,500, and Bitcoin is sitting right on top of them. This region is the first line of defense. The longer averages are rising and sit lower, near $77,400 and $76,100.
All of the averages point up, which keeps the larger trend positive since the August rally. The large gap above the long averages also means a deeper pullback is possible without breaking the trend.
The RSI is near 43, below the midpoint of 50. Momentum has slowed from the strong readings seen in late August and September. Volume is average, with no sign of panic selling.
Support begins at $80,800, then $80,000, and then $77,400. A daily close below $80,000 could push the price toward the $77,000 to $76,000 zone. On the upside, Bitcoin needs to climb back above $84,300 to challenge $87,000.
For now, $80,000 is the most important level. As long as it holds, the range remains intact.
Hyperliquid (HYPE) Tests Key Support
Hyperliquid is under pressure. HYPE trades near $78.17 on Coinbase, after opening at $80.64 and falling to a low of $77.69. The price is now approximately 20% below the late September top near $98.
After reaching nearly $98, HYPE has made a series of lower highs. A bounce to $95 in early October failed, and the price has fallen nearly every week since. Sellers have controlled the trend for approximately a month.
The price is also below the short and medium moving averages, which sit between $82.5 and $85.8. This area is now resistance, and any bounce will first need to clear it.
The orange moving average near $77.60 is now the key level. HYPE is sitting almost on top of it. The price touched this area a few days ago and bounced, but the bounce was small and faded quickly.
This is the third test in a short time. Each test of a support level makes it a bit weaker. A clean break below it would be a negative signal.
The RSI is near 40, which indicates weak momentum but not oversold conditions. There is still room to fall before buyers might be expected to react. Volume has dropped to low levels, so neither side is showing strong conviction.
If $77.60 fails, the next support is near $75, the low from earlier this month. Below that, the long average near $65.50 is the next major area, which would mean another 15% drop. On the upside, HYPE needs to reclaim $82.50 to turn the short-term picture around. After that, $85.80 and $90 are the next targets.
The long-term trend is still up, since the price remains well above the long average. But in the short term, buyers must defend $77.60 to avoid a deeper pullback.
Arman Shirinyan
Dan Burgin
