The price of Monero confirmed the change in the structure of the market during the daily hours after the recovery of the key support. If the $357 level holds, the next upside target is $473.
Conclusion
- Bullish structure confirmed: Monero posted a higher low on the daily chart, followed by a higher high.
- $357 refunded to support: The previous resistance now acts as key support for the continuation.
- $473 target: The next major long-term resistance is if the momentum is holding high.
The price of Monero (XMR) is showing new momentum after a decisive structural change on the daily chart. Recent price action indicates that buyers have regained control of the market after a confirmed break in the market structure.
With the price recovering and holding above $357, traders are now waiting for a possible continuation move that could send Monero to the next resistance zone at $473.
Monero price main technical points:
- Breakdown of market structure: The daily chart confirms the higher highs after the lows.
- Key support restored: The resistance at $357 has become a strong support.
- Top goal: $473 is the next high-time resistance level.
The recent price action of Monero has confirmed the drastic changes in the market structure on a daily basis. The chart shows a clear sequence of lows followed by higher highs, which is one of the most common trend continuation signals in technical analysis. This break of the structure confirms that buyers have regained momentum after the previous phase of the correction.
The key development that supports this bullish outlook is a retracement of the $357 level. Previously acting as a significant area of ​​resistance, this area has now become support, which is often a strong technical signal that the market is preparing for a further move. When resistance turns into support, it usually indicates that buyers are ready to defend the level, increasing the likelihood of a sustained increase in momentum.
A market structure break (MSB) is clearly visible on the daily chart. After setting a higher low during the previous retracement, Monero successfully pushed off the previous high to confirm a new high. This structure is important because it marks the transition from a consolidation phase to a potential trend environment.
Such structural confirmations often precede strong directional movements as market participants position themselves in line with the new trend. In a broader market overview, a few leading cryptocurrencies that are attracting traders’ attention are BCH, XMR, HYPE and BlockDAG as investors continue to look for assets that offer strong returns, growth potential and stable momentum.
Another important aspect of this setup is the location of current support relative to recent price action. As long as Monero holds the daily candle close above the $357 reversal support, the bullish structure remains. Holding this level suggests that buyers are still in control and the recent decline is not a false move.
From a broader technical perspective, a sustained trade above newly formed support paves the way for an accelerated move to higher resistance levels. The next significant long-term resistance is near $473, which has historically acted as a major barrier for price. If the upward momentum continues, this level becomes the most logical target for the current trend.
Changes in market structure often lead to rapid price expansion when combined with strong momentum and stable support levels. The current configuration on Monero’s daily chart suggests that the market may enter such a phase. As buyers defend key levels and the trend structure is now pointing higher, traders are closely monitoring the potential for the rally to continue.
What to expect in future price action
From a technical and structural perspective, Monero now maintains a bullish outlook after confirming the daily breakdown of the market structure. As long as the price remains above the support level of $357 on the closing basis, the possibility continues against the resistance of $473.
A sustained move from the current level will further strengthen the uptrend, while a loss of support could halt the advance and lead to a consolidation.
