The technical structure indicates that XMR is in a trend acceleration phase rather than at a top region.

From a technical perspective, XMR's breakthrough to new highs has not been accompanied by typical top signals; instead, it shows a healthy trend acceleration pattern. Both daily and weekly charts remain in a bullish alignment, with moving averages diverging upward. The pullbacks are always controlled, and there is no rapid decline after uncontrolled surges.

The volume structure is also worth noting. The volume increase before the breakout was not a one-time explosion but a gradual expansion. This "stepwise volume" often indicates that funds are continuously confirming the trend rather than emotional chasing. After breaking new highs, the price did not immediately retrace sharply, suggesting genuine high-level support.

More importantly, compared to the previous cycle's high point breakout, XMR's volatility has significantly decreased. Sustained upward movement with low volatility is often a sign of a strong trend, not the end phase of madness. If it were a top area, we would typically see intense fluctuations and a tug-of-war between bulls and bears, but the current structure does not show this characteristic.

Therefore, from a technical standpoint, XMR currently appears to be in the mid-trend acceleration phase rather than at a topping stage. The real concern is whether there will be continuous volume expansion and stagnation afterward, rather than simply judging the end based on "new highs."#XMR突破新高