Monero hashrate hits 6 month high at 7.17 GH/s – But XMR’s $650 breakout needs…
The short-term range formation highlighted the battle being fought for control of the $600-$650 supply zone.
The Monero [XMR] network hashrate has reached six-month highs and approached the record highs set in January 2026. At the time of writing, the hashrate was at 7.17 GH/s, or gigahashes per second.
The privacy-focused chain’s computational firepower might be climbing higher but the mining distribution was quite concentrated. The top 4 mining pools command 75% of the network’s hashrate, data from MiningPoolStats showed.
This was a result of how mining pools coordinate the computing power that individual miners bring, and should not alarm investors.
Monero bulls challenge January supply zone
The privacy sector tokens’ performance was a mixed bag, data from CoinMarketCap showed. ZCash [ZEC] and Dash [DASH] have rallied 9.9% and 10.2% respectively in the past week, while Monero [XMR] price has fallen by 2.6%.
As the chain’s hash rate approached January highs, so too did the XMR price.
The weekly RSI floated just above the 70 level that demarcated strong bullish momentum from overbought conditions. Meanwhile, the A/D indciator, which had seen a severe correction early in 2026, was slowly pushing higher toward the local peaks made in May.
The weekly trading volume has been at or below the 20-week average for the most part since June. Without explosive buying pressure, a breakout past the $600-$650 supply zone from earlier in the year could be difficult.
Despite this challenge, the weekly timeframe has a bullish bias. A weekly session close above $650, or below $560, would likely dictate the long-term trend’s next move.
Traders’ call to action- Caution
In a recent report, AMBCrypto highlighted that a Monero price dip to $560 and $520 was possible before a bounce. Since then, the altcoin fell to $564 before climbing back to $600.
Despite the bounce, the overhead supply zone remained intact. The range that XMR price has traded within since mid-September was unbreached, with the high at $640 the key level for buyers to overcome.
Until such a breakout, swing traders should remain wary of going long.
Final Summary
- The Monero hashrate chart approached record highs made in January 2026, alongside a price move back to January levels.
- The short-term range formation highlighted the battle being fought for control of the $600-$650 supply zone.
