• Monero price trades slightly lower on Thursday after closing above the key resistance zone earlier this week.
• Monero’s second beta stressnet for FCMP++ and CARROT has officially gone live, marking another step toward the network’s privacy upgrade.
• Charles Hoskinson called the upgrade “huge” for Monero and praised the development team’s work.

Monero (XMR) trades slightly lower around $405 on Thursday, after breaking out above key resistances earlier this week. Monero’s second beta stressnet goes live on Thursday, highlighting the network’s latest privacy-focused development. Cardano’s founder, Charles Hoskinson, described the upgrade as “huge” for the project while praising the Monero development team. Despite the mild pullback, the technical analysis suggests bullish momentum remains intact above key support levels.

Monero’s privacy update goes live

Monero announced on Thursday that its second testnet (beta stressnet) for Full-Chain Membership Proofs (FCMP++) and CARROT is live. 

Monero explained in its GitHub document that FCMP++ is a proposed upgrade that replaces ring signatures with membership proofs spanning the entire chain.

“When spending Monero, instead of making a ring signature proving you own 1 of 16 Monero outputs, you make a proof that you own 1 of the 150 million+ Monero outputs from across the entire Monero blockchain,” noted Monero.

On the other hand, Carrot is a proposed upgrade to Monero’s addressing protocol, bringing new security, privacy, and usability features while maintaining backward compatibility with existing addresses.

This update has been in development for over two years, having started on December 10, 2024.

“We implore the Monero community to participate in testing and to report issues in order to ensure a smooth transition!” said Monero on its official X post.

Charles Hoskinson, the founder of Cardano (ADA), called the upgrade “huge” for Monero and praised the development team’s work.

Monero Price Forecast: Key resistance flips to support

Monero price is trading at $405.79 on Thursday, retaining a constructive bullish bias as it extends above the 50-day, 100-day and 200-day Exponential Moving Averages, which cluster in the $366–$369 area and now reinforce the broader uptrend.

XMR is also holding over the 23.6% Fibonacci retracement at about $399.80, suggesting shallow corrective interest so far. At the same time, the Relative Strength Index (RSI) on the daily chart near 64 stays positive but shy of overbought territory. The Moving Average Convergence Divergence (MACD) remains in positive territory, hinting that upside momentum is still in play rather than exhausted.

On the downside, initial support is seen at the 23.6% retracement near $399.80, ahead of the horizontal level at $386.85; a deeper pullback would bring the EMA cluster around $369–$366 into focus, before the more distant structural floor at $292.49. 

On the topside, the next resistance is aligned at the 38.2% Fibonacci retracement around $476.04, with further barriers at the 50% retracement level near $537.66, followed by the 61.8% retracement at $599.27 and the 78.6% marker around $687.00, where profit-taking could intensify if the rally extends.

(The technical analysis of this story was written with the help of an AI tool.)