Monero price remains in a blue-sky breakout after clearing the $670 Fibonacci extension, with strong momentum keeping the next upside target near $930 in focus.
Summary
- $670: reclaimed extension level now acting as support
- $930–$939: next Fibonacci extension target zone (2.618 extension)
- Volume: should remain elevated to confirm continuation strength
Monero (XMR) price continues to trade in a powerful breakout structure, with price action holding firm in what can be described as a blue-sky breakout environment. In this type of market condition, upside resistance becomes limited because the asset is trading into areas where it has not recently formed major consolidation zones.
As a result, Fibonacci extension targets often become the most reliable technical reference points for tracking upside continuation.
Monero price key technical points
- XMR remains in blue-sky breakout conditions, limiting overhead resistance
- Price reclaimed and closed above the $670 (0.618 extension) level
- Next upside Fibonacci target sits near $930–$939 (2.618 extension)
Blue-sky breakouts are typically defined by two key characteristics: strong upward momentum and limited historical resistance overhead. When an asset breaks above key levels and begins trading into fresh territory, price can accelerate quickly because there are fewer sellers positioned at those levels, and liquidity becomes thinner.
For Monero, this breakout structure remains healthy as long as price holds above major extension levels on a closing basis. In bullish continuation phases, the market often pauses briefly at key Fibonacci extensions, consolidates, and then continues higher once the level is accepted. This sequence is currently evident in XMR’s recent behavior.
The ability to push beyond the initial extension and maintain higher price acceptance indicates that buyers are still in control and that demand has not been exhausted.
$670 reclaim confirms acceptance above the 0.618 extension
The first major Fibonacci extension target near $670 acted as a key checkpoint for the breakout. After reaching this level, the price briefly consolidated, which is a normal and healthy behavior during trend continuation. Rather than rejecting sharply, Monero stabilized and then pushed higher, confirming that the market accepted the level as support.
The most important detail is that XMR has now closed above $670 on multiple daily candles. Daily closes are a strong confirmation signal because they reflect sustained participation over longer time frames. This reduces the likelihood that the breakout was simply an intraday liquidity spike or a temporary overextension.
By closing above the extension level, Monero effectively flipped $670 into a structural support zone, increasing the probability that price continues trending higher rather than rotating back into the prior range.
Next fibonacci target: $930 to $939 comes into focus
With the $670 extension level now reclaimed, Monero’s next major upside target is the $930 region, with the broader objective aligning near $939, which corresponds to the 2.618 Fibonacci extension.
This target becomes relevant because Fibonacci extensions often act as upside magnets in breakout conditions. When price is in discovery mode, extension levels provide structured targets where traders expect either continuation pauses or profit-taking zones.
The move from $670 to $930 is a significant leg, but in blue-sky breakout conditions, price can travel quickly between targets if momentum remains strong and volume supports continuation.
Importantly, until price reaches the $930–$939 area, there is limited overhead structure to act as major resistance, which supports the idea of continued breakout expansion.
Volume influx supports breakout continuation
Volume remains one of the most important indicators for validating whether a breakout is sustainable. In strong bullish breakouts, volume typically expands during impulsive legs and remains stable during consolidation phases. This signals that demand is still present and that buyers are willing to transact at higher prices.
Monero’s breakout continues to look constructive because the move higher has been supported by strong volume inflows, signaling ongoing market participation. Healthy volume during expansion helps reduce the risk of a failed breakout and increases the probability that price continues to chase higher extension targets.
If volume remains elevated as price approaches the next Fibonacci objective, it would reinforce the bullish trend and support the probability of continuation beyond the $930 region.
What to expect in the coming price action
Monero remains in a technically strong breakout environment, with price holding above the $670 extension level and momentum still pointing higher. As long as daily closes remain above reclaimed support and volume stays constructive, the probability favors continuation toward the next Fibonacci extension target near $930 to $939.
In the near term, traders should monitor whether XMR continues to maintain breakout structure without heavy rejection. Any brief consolidation below $930 would be normal, but sustained acceptance and strong follow-through would confirm that the breakout remains active.
Source: https://crypto.news/monero-price-eyes-930-as-fibonacci-extension-breakout-continues/
