Monero (XMR) is currently trading at a region of strong technical confluence, creating a solid foundation for a potential bullish reversal. If support holds, price could rotate upward toward the $357 high.
With several overlapping indicators and structural support aligning at this level, the probability of a continuation toward higher resistance increases, assuming momentum persists in the coming sessions.
XMR has found itself at a significant support region made up of multiple key technical elements. This area includes the point of control, daily support-resistance (SR), VWAP-based SR, value area high, and a broader high-low structure level. These overlapping levels form a critical inflection point where price is attempting to base before a potential move higher.
The $357 level remains the next major target, but only if current support holds firm. From both a volume profile and structural standpoint, Monero is showing signs of a bullish bias as long as this region is not lost.
Key Technical Points
- Multi-Layered Confluence Zone: Includes point of control, VWAP SR, daily SR, and value area high
- Current Price Structure: Holding above key support, indicating bullish potential
- $357 Target in Focus: A potential rotation target if support continues to hold and reversal forms
Monero’s price action has entered a highly reactive zone. This region is not only home to the point of control from the current range but also aligns with a daily support-resistance flip, VWAP-based levels, and the value area high. Structurally, the zone also represents a midpoint between recent high and low swings, adding further technical weight.
From a structural perspective, price is holding above this level cleanly for now, which suggests buyers are stepping in to defend the area. If XMR continues to print higher lows on the lower time frames and remains above the point of control, a bullish rotation toward $357 becomes increasingly likely.
Volume behavior is relatively stable, and while there is no major spike yet, the support holding without breakdown is a positive signal. In previous market cycles, similar confluence zones have acted as springboards for price continuation. Therefore, the importance of holding this region cannot be overstated.
To maintain this bullish scenario, XMR needs to stay above the point of control with confirmation through price acceptance and possible breakout structures in the lower time frames. Any strong close below this area could invalidate the short-term bullish case and reintroduce downside pressure.
What to Expect in the Coming Price Action
If XMR holds this confluence region over the coming days and establishes a reversal structure, the stage is set for a push toward the $357 resistance zone. As long as the point of control remains intact, the likelihood of a bullish continuation increases significantly.
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