Date: Sat, Nov 01, 2025 | 05:30 AM GMT
The cryptocurrency market is beginning the new month with a steady tone as Bitcoin (BTC) and Ethereum (ETH) trade slightly higher, setting a positive backdrop for several altcoins. Among them, Monero (XMR) — the leading privacy token — is showing signs of upside momentum after recent consolidation.
XMR is up by 5% today, trading in the green, and its latest price structure hints that a potential bullish breakout could be on the horizon.
Descending Broadening Wedge Pattern in Play
On the 4-hour chart, Monero (XMR) has been moving within a descending broadening wedge, a bullish reversal pattern that often forms after a prolonged downtrend and signals a potential upside breakout once price escapes the upper boundary.
During its recent pullback, XMR tested the lower wedge support near $320, coinciding with a rebound from the 200-moving average (MA) — a level that has historically acted as a key trend indicator. Since then, the token has shown a strong recovery, climbing back to around $339, where it now sits close to the wedge’s upper resistance line.
The compression of price action near this upper boundary suggests tightening volatility — a classic setup that often precedes a strong breakout move.
Notably, XMR has also reclaimed its 50-hour MA near $314, which could now act as a short-term support zone for buyers to defend in case of any intraday retracement.
What’s Next for XMR?
If Monero sustains above the 50-hour MA and breaks decisively above the wedge’s upper trendline, it could confirm a bullish reversal. Such a move may trigger an upside rally toward the $374 region — representing a 10% potential gain from current price levels.
However, if XMR fails to breach resistance and faces rejection, the token may continue consolidating within the wedge. In that case, the $314 level will be crucial to watch as short-term support.
For now, the setup looks constructive. As broader market sentiment improves and Bitcoin continues to hold its gains, Monero (XMR) could emerge as one of the privacy-focused altcoins leading the next wave of bullish momentum.
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