Date: Wed, Nov 05, 2025 | 08:30 AM GMT
The cryptocurrency market is showing minor signs of relief after the sharp sell-off witnessed over the last two days, which pushed Bitcoin (BTC) down to the $98K region before rebounding to around $102K.
Following this, several altcoins have started turning green again — including the privacy-focused token Monero (XMR), which is up by over 4% today. More importantly, XMR’s daily chart is flashing a potentially bullish signal, hinting that a major breakout could be on the horizon.
Rounding Bottom in Play
On the daily timeframe, XMR appears to be forming a rounding bottom pattern, a bullish reversal structure that often signals the transition from accumulation to a new uptrend.
The formation started earlier this year after XMR faced strong rejection from the $371 zone in May 2025, triggering a correction to as low as $232.74, where buyers stepped in aggressively. Since then, the token has maintained a steady recovery, forming a smooth, curved base typical of a rounding bottom.
Currently, XMR is trading near $358, sitting right in its neckline resistance zone between $347 and $371. This area has been a historical supply region, and a clean breakout above it could confirm the end of the accumulation phase and the start of a new bullish cycle.
What’s Next for XMR?
If bulls successfully push XMR above the $371 neckline, the breakout would validate the rounding bottom structure. From a technical perspective, this could open doors for an initial move toward $425, followed by a potential run-up to around $500, representing nearly a 38% upside from current levels.
On the flip side, short-term pullbacks remain possible. A temporary rejection from the neckline could send XMR back into rounding bottom — before any decisive move higher.
For now, XMR’s price behavior suggests that momentum is shifting back in favor of the bulls. A confirmed breakout from the rounding bottom could mark the beginning of a sustained uptrend, reinforcing Monero’s strength among top-performing privacy coins in this recovery phase.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
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