Monero (XMR) price has dropped more than 10% after establishing a weekly high of around $290 on April 24. However, several technical indicators suggest that XMR/USD is poised to move forward. its uptrend in the near future.


[Monero \(XMR\) has 75% upside potential as wedge breakout and key upgrade near](

**Breakout of falling wedge pattern**

Notably, XMR broke out above the “**falling wedge**” pattern at the end of March. It has continued to rise with increasing volume in the following trading sessions. This shows that the sentiment of Monero traders is positive.

Traditionally analysts consider a falling wedge to be a bullish reversal pattern, which often leads to a strong bounce.

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