After spending time trapped inside a falling wedge, price has finally escaped the structure and momentum is beginning to shift.
• Sellers are losing control • The wedge resistance has been cleared • Bullish momentum is building • Previous resistance could now become an important support zone • Higher price levels are back in focus
The breakout itself is only the beginning. What happens around the former resistance area could determine whether $XMR develops this into a much larger move.
If buyers continue defending the breakout and volume follows, the next phase could get aggressive.
Price is trading around $6.783 after exploding from the $3.30 demand zone, more than doubling in under three weeks. The breakout has developed into a steep, aggressive trend, with buyers continuing to control the move.
The $6.50 level is now crucial. As long as $UNI holds above it, momentum remains strong and the market can keep pressing toward the highs around $7.00.
A clean push through $7.00 could open the door for another expansion as traders chase continuation.
On the downside, $6.10 is the first major warning level. Losing it could trigger a deeper pullback toward the rising trendline around $5.70, where buyers may be tested again.
The move is becoming parabolic, which makes every support level increasingly important.
For now, the trend remains powerful.
Respect the momentum until the chart shows real cracks.