The privacy-focused cryptocurrency Monero has seen a 5% increase in the past 24 hours, making it the top gainer in the market. Despite a wider downturn in the crypto market, Monero's bullish momentum is expected to continue in the short term. The token has consistently traded above an ascending trendline since December, indicating strong support at around $220.74. Additionally, Monero's futures traders have a higher demand for long positions, suggesting a bullish sentiment. The Relative Strength Index (RSI) for Monero is in an upward trend, confirming the demand for the altcoin. If buying activity persists, Monero's price could reach $289.11. However, a negative shift in market trends could cause Monero to lose its recent gains and potentially break below its support level.



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