Date: Sat, Aug 16, 2025 | 06:40 PM GMT
The cryptocurrency market is going through another round of cooling as Ethereum (ETH) retreats to $4,400 from its recent peak of $4,780. This pullback has placed pressure on many altcoins, though some are showing resilience.
One standout is Monero (XMR), which has managed to stay in positive territory with a 5% gain. Even more interesting, XMR’s chart is now flashing a potentially bullish signal through the appearance of a well-known harmonic structure.
Harmonic Pattern Hints at Potential Upside
On the daily timeframe, Monero is shaping what looks to be a textbook Bullish Bat harmonic pattern. This advanced formation is closely watched by technical traders because it often signals a strong reversal point and sets the stage for the next major move higher.
The pattern began with an initial leg from point X around $184.98, a sharp rally to point A, a retracement down to B, followed by a bounce to C, and finally, a pullback to the D point near $232.
Following this, XMR has started to recover and is now trading around $249. Notably, the price is edging closer to the 200-day moving average, currently hovering near $273. This level is likely to serve as a short-term resistance and also a crucial confirmation point for the bullish scenario.
What’s Next for XMR?
If Monero can decisively break above the 200-day MA with solid buying volume, the Bullish Bat pattern projects significant upside targets. The Potential Reversal Zone (PRZ) stretches between $331 (0.618 Fibonacci extension of the CD leg) and $422 (1.0 extension). Historically, these levels are where the Bat formation tends to complete before facing any possible reversal or consolidation.
Still, the bullish outlook hinges on Monero holding firm at the D point support near $232. A breakdown below this level would invalidate the pattern and likely delay any breakout attempt.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always perform your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
