Monero exhibits potential for a Rounded Bottom reversal, aiming at overcoming the $417 resistance level.
In the world of cryptocurrency, Monero (XMR) is currently showing signs of a potential reversal, with a bullish rounded bottom pattern emerging at the critical $269 support level. This development, if confirmed, could propel the digital asset towards significant price targets in the near to medium term.
The rounded bottom pattern, a classic reversal structure, typically signals a shift from a downtrend to a sustained upward movement. The $269 area, which aligns with the base of the developing rounded bottom, is a region of particular interest due to confluence from the 0.618 Fibonacci level and the Volume-Weighted Average Price Support (VWAP SR).
If Monero begins to show a steady rise in volume near the $269 support during any corrective move, it would signal renewed buyer interest and strengthen the case for a breakout. The initial barrier for Monero lies at the Value Area High, a significant resistance level that, if breached, could pave the way for a rally towards the potential price targets.
In the short term, experts predict price targets in the $300-$400 range if the bullish rounded bottom pattern is successfully confirmed. For the medium to long term, potential targets reach anywhere from $500 to over $1,000+, depending on market dynamics and the strength of the bullish trend in the coming years.
For instance, conservative to moderate bullish targets for 2025 range from $287 to $347, with some forecasts expecting averages near $325 to $386 and maximums reaching up to $473. Price estimates for 2026 indicate a potential trading range approximately between $320 to $617, with averages near $524 to $767 and highs possibly exceeding $1,100.
Looking further ahead, if the bullish momentum solidifies, Monero could reach substantial heights. By 2027-2028, predictions suggest prices between $1,150 to $2,590. By 2030, the price could climb between roughly $966 to over $5,800, depending on market conditions and adoption.
It is important to note that failure to defend the $269 support could invalidate the rounded bottom setup and delay bullish continuation. A rejection at the Value Area High could lead to a pullback into the $269 region, providing another opportunity for buyers to accumulate and potentially re-ignite the bullish momentum.
In addition to these technical indicators, the crypto landscape is evolving. Stablecoins now power 75% of crypto payments across Europe, according to a recent report, and the listing of FUNToken on Poloniex could potentially strengthen Monero's global reach and utility.
In summary, the potential for a bullish reversal in Monero is promising, with the $269 support level emerging as a critical region to watch. If the rounded bottom formation is confirmed, it could precede a sustained bullish phase, potentially propelling Monero towards the $300-$400 range in the short term and beyond $1,000 in the medium to long term, depending on market conditions and the strength of the bullish trend.
The rounded bottom pattern, a typical reversal structure in the crypto world, could signal a shift from a downtrend to a sustained upward movement for Monero (XMR). If Monero begins to show a steady rise in volume near the $269 support during any corrective move, it would strengthen the case for a breakout and kickstart crypto investors' interest in this token. Furthermore, the potential success of this bullish reversal could propel Monero towards price targets beyond $1,000 in the medium to long term, especially if the bullish trend remains strong in the coming years.
