XMR registers best monthly close ever in August 2026

Overview

Monero (XMR/USDT¹) bulls managed to orchestrate an impressive ~50% rally last month that ran out of steam around $550 and which lead to the best monthly close ever at $520.

As I am writing this report, both sides are struggling for control over the $500 psychological line.

Bull case

Provided either of these levels hold: $500, the .382 fibs at ~$460, or $420 - the next impulsive wave up should follow and that could easily expose the $600-650 resistance zone which is the final obstacle before an ATH retest.

Bear case

Alternatively we could see a breakdown towards $400 around the golden ratio. Reds can then potentially reverse the trend with a confident close - ideally under $380 - which would target the critical $300-350 support area next.

This is an ongoing story and the report will be updated when new information is available.