Monero Hashrate Reaches Six-Month High, But XMR Struggles to Break $650

The Monero (XMR) network's hashrate has reached six-month highs and is approaching the record levels of January 2026. At the time of publication, the figure stood at 7.17 GH/s. The network's computational power is growing, but mining distribution remains concentrated: according to MiningPoolStats, the four largest pools control 75% of the hashrate. This is a consequence of how pools coordinate the power of individual miners and, according to the source, should not cause concern for investors.

Price Dynamics

Privacy token metrics have diverged: ZCash (ZEC) and Dash (DASH) rose by 9.9% and 10.2% respectively over the week, while Monero fell by 2.6%, according to CoinMarketCap. As the hashrate approaches January's highs, the price of XMR has also approached the levels at the beginning of the year.

The weekly RSI held just above 70 – the boundary between a strong bullish impulse and overbought conditions. The A/D indicator, which experienced a strong correction at the beginning of 2026, was slowly moving towards the local peaks of May. Weekly trading volume since June has mostly been at or below the 20-week average. Without explosive buying pressure, breaking through the supply zone of 600–650, formed earlier this year, may prove challenging.

Despite this, a bullish bias remains on the weekly timeframe. Closing the week above $650 or below $560 is likely to determine the next movement of the long-term trend.

What Happened Before

A recent report by AMBCrypto noted that a drop in Monero to $560 and $520 was possible before a rebound. Since then, the altcoin fell to $564 and then returned to $600. Despite the rebound, the overhead supply zone remained untouched.

The range in which XMR has been trading since mid-September has not been broken, and the high of $640 remains a key level for buyers. Until a breakout occurs, the technical picture remains uncertain: short-term movement is confined within the range, and a decisive move beyond its boundaries will be crucial.