FLR, XMR, ZEC Surge: Flare’s Layer-1 Dominance Sparks XRP DeFi Hopes
Layer-1 blockchain Flare (FLR) outpaces rivals Monero (XMR) and Zcash (ZEC) in today’s crypto rally—staking its claim as the bridge to unlock XRP’s untapped DeFi potential. Traders pile in, ignoring the irony of betting on ’privacy coins’ in a surveillance-heavy market.
Flare’s smart contract pivot targets XRP’s dormant liquidity, while Monero and Zcash ride the privacy narrative—again. Because nothing says ’financial revolution’ like recycling 2017’s talking points.
Will this rally last? Ask the hedge funds currently repositioning—their algorithms care more than your diamond hands ever will.
Flare’s multi-month trendline breakout eyes $0.022
Flare records double-digit gains over the last 24 hours at press time, trading at $0.01990. The DeFi token created a bullish engulfing candle on Sunday, with a NEAR 10% surge, crossing above its 200-day Exponential Moving Average (EMA) at $0.01908.
With an intraday rise of over 3%, the uptrend exceeds a multi-month resistance trendline formed by peaks on December 3 and January 18, alongside multiple long-tailed candles in May.
The Moving Average Convergence/Divergence (MACD) is close to surpassing its signal line, hinting at a bullish crossover. This will mark a trend reversal signal as bullish momentum resurfaces, supporting the uptrend chances in Flare.
If Flare maintains a clear dominance above the broken trendline, traders could find the breakout rally reaching the $0.02250 supply zone. The next key resistance is the $0.030 peak formed on January 18.
FLR/USDT daily price chart. Source: Tradingview
On the flip side, the crucial support for Flare is the $0.01823 low formed last week, followed by the $0.01370 support level.
Monero’s reversal rally targets $365
Monero trades at $344, witnessing a minor pullback of under 1% at press time on Monday. The privacy coin makes the top gainers list with a near 7% surge on Sunday, ending the bearish streak of consecutive bearish candles.
The price action reflects a morning star pattern, characterized by a 4% drop on Friday, a Doji on Saturday, and a bullish engulfing candle on Sunday. Monero finds the support floor at the 50-day EMA at $312, overlapping with the demand zone between $307 and $313.
The Relative Strength Index (RSI) at 51 maintains a neutral standpoint as it resurfaces and hovers above the halfway line after a sharp drop from the overbought zone. This suggests a minor recovery in the bullish momentum supporting the extended rally chances.
The immediate resistance for XMR lies at $365, aligning with the 23.6% Fibonacci level, based on the Fibonacci retracement from $194 on April 9 to $418 on May 25.
XMR/USDT daily price chart. Source: Tradingview
On the flip side, the key support remains the convergence of the 50-day EMA, the 50% Fibonacci level, and the demand zone between $307 and $313.
Zcash nears range breakout, targets $65
Zcash is trading at $52.73, up nearly 5% in the last 24 hours at the time of writing on Monday. Over the last two days, ZEC has jumped over 10%, reversing from the $46 demand zone.
The privacy coin nears the overhead resistance zone at $56, which resulted in a pullback last week. This hints at a potential consolidation in ZEC if it fails to break past the overhead supply.
The surge from near the halfway line puts the RSI at 62 points, suggesting a revival in bullish momentum. Additionally, the 100- and 200-day EMAs give a positive crossover signal, a trend reversal as medium-term bullishness overcomes the longer-term consolidation.
A breakout above the $56 supply zone could be an entry point for momentum traders as the immediate potential price target lies at the $65 zone.
ZEC/USDT daily price chart. Source: Tradingview
Conversely, the $46 zone remains a crucial support for Zcash, followed by the $40 range.
In a nutshell, as Flare marks a key breakout and the privacy coins bounce back on Sunday, challenging key levels, these top performers are likely to hold a bullish trend this week.
