Technical analysis by The_Alchemist_Trader_ about Symbol XMR: Buy recommendation (9/3/2025)

Monero (XMR) has successfully retested $235 support, previously resistance, now aligned with the 0.618 Fibonacci retracement. Sustained bullish volume could propel price toward the $417 resistance target. Monero has reclaimed and confirmed the $235 level as a critical support after retesting it successfully. With this region now aligned with the 0.618 Fibonacci retracement, the technical picture remains firmly bullish. Holding this level is crucial for continuation, as it preserves the broader market structure and keeps the next upside target of $417 in play. Monero (XMR) Key Technical Points - $235 Support Confirmed: Former resistance flipped into support with Fibonacci confluence. - Bullish Market Structure Intact: Holding $235 sustains higher highs and higher lows. - Next Target at $417: Breakout continuation favors rotation toward this resistance. The successful retest of $235 has given Monero’s chart a strong bullish foundation. This level was previously a point of resistance, and its confirmation as support marks a significant structural milestone. The added confluence of the 0.618 Fibonacci retracement further strengthens its importance, reinforcing the idea that this region should sustain if Monero is to continue its bullish trajectory. Market structure remains supportive, with the $235 zone acting as a higher low that validates the ongoing uptrend. Several daily closes above this region confirm that demand is active, as buyers consistently step in to defend this level. This behavior reflects market confidence and positions XMR well for its next upward move. Volume dynamics will play a decisive role in confirming continuation. While bullish influxes have been present around $230, these flows must remain strong and sustained for Monero to push higher. Without adequate participation, price risks stagnating around the support region, but with increasing demand, momentum can carry Monero toward the next resistance target at $417. The $417 level is the immediate upside objective, representing a high timeframe resistance zone. This area will be a critical test for Monero’s bullish case. A successful rotation into this region would not only confirm the uptrend but also open the door for potential continuation beyond it on longer timeframes. What to Expect in the Coming Price Action As long as Monero holds above $235 support, the bullish market structure remains intact. A sustained defense of this region, backed by continued volume influxes, should drive price toward $417 resistance, validating the bullish momentum.