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Monero punched above its September peak on Oct. 23, trading near $629 after briefly touching $656 intraday. Bitcoin, meanwhile, slid from an $84,294 open down to $81,483 — sitting uncomfortably close to the $80,000 floor that’s been the market’s main line in the sand for weeks.
Why It Matters
XMR’s strength stands out because it is occurring while the broader market is still fragile, with Bitcoin hovering near a level that has acted as an important support zone for weeks. When a smaller asset is outperforming into a cautious tape, it can signal selective risk-taking rather than broad confidence, which makes the durability of the move more important than the intraday spike itself.
XMR’s move is the clearest bullish story of the session. The coin has more than doubled since its July low near $300, and every major moving average sits below the price and slopes upward — a textbook sign of sustained buying pressure. The intraday range ran from $604 to $656. That $656 touch left a long upper wick before the price pulled back, which is basically the chart’s way of flagging that sellers showed up near that level. Still, the retreat didn’t break anything. XMR held above its rising averages, and the broader trend stayed intact.
Not confirmed yet.
Monero’s Breakout Needs a Close
The September peak near $635 was the level that stopped XMR cold in mid-September. Breaking above it matters, but a single intraday push isn’t enough — the market wants a daily close above that area to call it a real breakout. So far, it hasn’t delivered that. The price slipped back to $629, which puts the whole thing in a kind of awkward middle ground.
Short-term moving averages sit near $565 and $548. A medium-term average is near $538. Longer-term averages are down near $492 and $443. The $565-to-$540 band is probably the first zone that would catch XMR on a pullback. The RSI was near 70 — right at the edge of overbought — while volume picked up over the past few days. That volume increase is worth watching; it can either fuel a clean breakout or signal an exhaustion move.
Above $656, the next targets are $700 and then the January high near $800. Below, support sits at $565, $540, and $490. A drop back under $635 would put the whole breakout story at risk.
Stellar’s chart tells a different story entirely. XLM traded near $0.1777 on Binance on Oct. 23, down from an opening price of $0.1838. Its daily range was $0.1768 to $0.1845. The coin has dropped roughly 25% from its late-September level around $0.237, and it’s now sitting below a cluster of major moving averages bunched between $0.19 and $0.196. That cluster is now acting as resistance, not support — a meaningful shift.
XLM’s nearest support is $0.172, a level that held earlier in the week. The price was about 3% above it. If that breaks, $0.17 comes into view, and below that, the August low near $0.1525 is the next real floor. The RSI was near 38 — below the midpoint of 50, but not oversold. Volume has been light for weeks. A rebound would need to clear $0.19 first, then $0.20 and $0.22 above that. A sustained move back above $0.19 would be the first real sign the selling is done.
Bitcoin’s $80,000 Floor Takes the Spotlight
Bitcoin opened around $84,000 on Oct. 23, hit $84,294, then dropped hard to $81,483 — wiping out the prior day’s gains and landing BTC near the bottom of the range it’s held since mid-September. The upper boundary of that range sits near $87,000, where Bitcoin failed in September and again in early October. The lower boundary is near $80,000, where buyers stepped in at the start of the month.
Recent bounces have been getting weaker. Each rally high has come in below the last, which isn’t a great sign for bulls trying to argue the range resolves to the upside.
Shorter-term moving averages are between $80,800 and $82,500, putting Bitcoin right in the middle of that group. Longer-term averages sit lower, near $77,400 and $76,100, and are still rising. The RSI was near 43, below 50, with average volume and no signs of panic selling. Support levels are $80,800 and $80,000. A daily close under $80,000 could pull the $77,000-to-$76,000 area into focus fast. To challenge the range top, Bitcoin needs to reclaim $84,300.
Hyperliquid Faces Its Third Test at $77.60
Hyperliquid traded near $78.17 on Coinbase after opening at $80.64 and falling to $77.69. That puts HYPE roughly 20% below its late-September peak near $98. Since then, the price has built a pattern of lower highs — a bounce to $95 in early October failed, and the coin has dropped in nearly every week since.
The short- and medium-term moving averages, ranging between $82.50 and $85.80, are all above the price and acting as resistance. The immediate support is the moving average near $77.60. HYPE touched it a few days ago and bounced, but the recovery was small and faded fast. It’s now facing that same level for a third time in a short stretch.
Third tests of support tend to break.
The RSI was near 40 — weak momentum, but not yet oversold. Volume has dried up. If $77.60 gives way, the next support is near $75, the low from earlier this month. Below that, a longer-term average near $65.50 would be the next major level to watch. To flip the short-term picture, HYPE needs to reclaim $82.50, with $85.80 and $90 sitting above it.
The $77.60 level is the only thing standing between HYPE and a deeper slide.
Frequently Asked Questions
What price would confirm Monero’s breakout above $635?
A daily close above the September peak near $635 would confirm the breakout. On Oct. 23, XMR was trading near $629 after touching a high of $656 intraday.
Where is Bitcoin’s most critical support level right now?
Bitcoin’s key support sits near $80,000, with $80,800 as a secondary level. BTC traded near $81,500 on Oct. 23 after falling from a session high of $84,294.
What happens to Hyperliquid if $77.60 breaks?
If HYPE loses $77.60, the next support is near $75, followed by a longer-term moving average near $65.50. HYPE was trading near $78.17 on Oct. 23.
