Monero hashrate hits 6 month high at 7.17 GH/s – But XMR’s $650 breakout needs…

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.