Monero price surges toward $420 yearly high as uptrend extends

Monero price holds firm after recent volatility. With higher lows intact and $338 support defended, bulls now target $420 as the next key resistance.

Monero (XMR) price continues to display exceptional resilience despite recent market turbulence. After a sharp correction phase, price action has remained decisively bullish, maintaining a clear uptrend structure defined by consecutive higher lows and higher highs.

Monero price key technical points:

• Key Support: $338, reclaimed and confirmed with bullish engulfing candles.
• Major Resistance: $420, the next target and significant yearly high.
• Market Structure: Strongly bullish with momentum favoring continued upside.

The current market momentum for Monero remains firmly bullish even after a period of capitulation and volatility. Price has successfully defended the $338 high-timeframe support, which now acts as the primary foundation for further upside expansion. Recent bullish engulfing candles at this level confirm strong demand and show that buyers continue to dominate in this region.

If Monero retests the $338 zone, it would likely form another higher low, reinforcing the broader uptrend. This behavior is typical of sustainable bullish structures, where market corrections serve as opportunities for re-accumulation rather than trend reversals.

The next significant area of interest lies at $420, which marks both a previous swing high and an important psychological resistance for 2025.

A successful breakout above $420 would confirm a continuation of the bullish macrostructure and open the door to higher targets, potentially extending Monero’s yearly high.

Momentum indicators remain supportive, with price maintaining strength above key moving averages. Despite prior volatility, the ongoing sequence of higher lows and higher highs confirms that Monero’s market structure remains decisively bullish.

The only factor to monitor closely is volume behavior, a sustained rise in bullish volume around support levels will validate continued upward momentum. At the same time, declining participation could imply short-term consolidation before another move higher.

What to expect in the coming price action

As long as Monero (XMR) holds above $338, the probability of continued bullish expansion remains elevated. Traders should watch for clean retests of this support region as potential entry points, with $420 standing as the key resistance to reclaim. A daily close above $420 would confirm renewed bullish momentum and continuation of the long-term uptrend.