- Monero shows strong bullish momentum after breaking resistance, with analysts eyeing a $484 target and a possible 48% climb.
- XMR’s recovery from the $100 lows to near $484 marks a powerful comeback after years of bearish pressure and consolidation.
- The privacy coin’s breakout confirms renewed investor confidence as Monero completes a full market cycle from boom to recovery.
Monero (XMR) is flashing strong bullish momentum after breaking out of its long-term resistance trend, signaling the potential for a major upside run. According to market analyst Javon Marks, “$XMR has been performing extremely well, climbing massively towards our target after breaking out of its resisting trend, and prices look to still be positioned for HIGHER!” Marks projects a breakout target of $484.44, suggesting another 48% climb from current levels.
Multi-Year Recovery After Prolonged Bear Market
Early January 2021, the cryptocurrency hit $700, the highest price ever recorded in trading history. But as soon as prices started to fall in 2021 and 2022, selling pressure took over. Prices continued to fall during this time as Monero moved inside a bearish channel.
Monero found solid support near $100 by the end of 2022. Buyers then began to return, preventing further price declines and assisting in market stabilization. The price moved sideways for several months, laying a strong foundation. Monero then eventually broke above its long-term negative trend in late 2023, indicating a new beginning for the coin’s recovery.
Bullish Trend Accelerates Into 2025
As 2024 progressed, Monero’s price continually increased, erasing the impact of the previous bear market. As the 2025 surge intensified, volatility soared and prices came close to $400.
After a strong comeback from lower levels, XMR is currently trading close to the $484.44 zone, where it encounters horizontal resistance. The price action points to consolidation prior to a possible upswing in the trend. Data on trading volume also supports the resurgence of investor activity as bulls and bears compete for control.
