Amid widespread weaknesses, how Monero [XMR] is managing to stay optimistic

ambcrypto.com:

You probably wonder why your friends HODLing Monero (XMR) have been suspiciously joyous in the last seven days. Well, you should know that the seven days were marked with significant growth for the XMR token. At the time of press, a bullish divergence was spotted on the price charts indicating that the bull run has only just begun.

As a privacy-focused cryptocurrency, Monero (XMR) through its cryptographic technologies allows its users to execute anonymous transactions. This guarantees privacy for all transactions executed through the XMR token.

What do we know about the performance of this private and decentralized cryptocurrency in the last seven days?

At $172.77 at the time of press, the token witnessed noteworthy growth in the last week. Recording an intraday high of $180 on 21 May, the token appeared to be marking highs in new territories. In the last week, the price per XMR token grew by 13%. Although 67% shy of its ATH of $517, the token appears to be poised for a bullish run.

Source: CoinMarketCap

A consideration of the price charts indicated increased buying pressure for the token on 20 and 21 May, hence the bullish trend. The MACD was also spotted below the histogram bars with the MACD line intersecting the trend line in an upward direction.

Source: TradingView

Further to this, at the time of press,  the Relative Strength Index (RSI) was trading at an upwards curve of 45, pointing towards at ongoing purchase in the market. 

Source: TradingView

The market capitalization for this privacy token also toed a similar progression. In the past seven days, the market cap grew from $2.77 billion to $3.13 billion at at the time of writing.

Source: CoinMarketCap

Presenting a generally bullish outlook at the time of press, a look at