Monero’s price finally broke through after moving sideways for months. The price jumped past an important level that many traders were watching. Looking at Monero against USDT on daily charts, this breakout looks pretty strong and might lead to more gains ahead.
Between June and November, Monero’s price remained range-bound, trading between $151 and $175. This horizontal movement created a clear sideways channel as the price repeatedly tested these levels. The lower support zone near $151 consistently held firm, while resistance around $175 prevented upward progress.
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The market shifted direction in early December when Monero broke above the $175 resistance. The breakout occurred with strong bullish momentum, confirming buyer interest. Following the breakout, the price briefly retested $175, turning the previous resistance into a new support level.
Price Action and Resistance Zones
Monero’s breakout led to a surge toward the $200 mark, surpassing the psychological and technical barrier that had held for months. The price movement was supported by strong bullish candles, reflecting increased buying activity.
With Monero now trading around $216, the next key resistance level to monitor is approximately $230. This level aligns with areas where price movements previously slowed, suggesting potential selling pressure. Traders are likely watching whether the uptrend can sustain above the current price levels.
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Support Levels and Market Trend
The $151 and $175 zones remain critical areas of support. During the prolonged sideways trend, these levels were tested multiple times, reinforcing their reliability. After the recent breakout, $175 has transitioned into a robust support level, providing a foundation for potential upward movements.
The broader market trend shows Monero’s price moving from a sideways channel into a bullish phase. Between March and May, the cryptocurrency experienced an uptrend before consolidating mid-year. The December breakout signals a possible continuation of this earlier trend, as Monero gains momentum to explore higher price levels.
What Comes Next for Monero Price?
As XMR holds above $200, traders are focused on whether the price can push toward $230. The bullish momentum following the breakout suggests a strong appetite for the asset, but resistance levels must be carefully watched. If buyers maintain control, Monero could test new highs, solidifying its upward trend.
Market participants are now monitoring Monero’s ability to sustain current price levels while keeping an eye on potential corrections. With strong support at $175 and $151, the cryptocurrency’s price structure appears resilient as it moves into a new trading phase.
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