Monero's bullish signal seen by a veteran analyst: Will it follow the pattern of silver?

Prominent technical analysts such as Peter Brandt have recently been paying attention to Monero. The analysis shows that Monero’s chart pattern is surprisingly similar to the structure of silver just before it rose dramatically after decades of formation.

Signals of a Technical Breakout: The Implications of Monero’s Chart

Monero has been showing notable changes in technology in recent weeks. It broke through the all-time high of $578 earlier this week, clearly surpassing the previous $540 resistance level. This has implications beyond simple price increases.

In technical analysis, resistance refers to the price point at which early buyers are willing to take profits or dispose of assets. Breaking through these resistance levels one after another is a sign that market sentiment has fundamentally changed. Monero has been trading mostly below its 2018 high for the past seven years, and recent moves suggest an escape from this long-term box.

Analyzing Historical Precedents: Silver’s Growth Patterns and Monero’s Similarities

What is interesting is the observation that Monero’s pattern is similar to the historical flow of silver. Silver has been trading sideways for decades before rising to $84 per ounce, nearly doubling since October. Similarly, Monero has been in a period of almost motionless for many years, but has recently slowly peaked and is entering a stage of overcoming all barriers.

The important point in Brandt’s analysis is not timing, but ‘patience’. The phenomenon of the price quietly regaining resistance after a long period of sideways movement and then suddenly rising sharply suggests the next phase of bullishness. Monero has risen steadily since the end of 2024, recovering levels that served as resistance zones, and is now closer to all-time highs than ever in the long-term cycle.

Overcoming Regulatory Risks and a Signal of Market Recovery

The reason why Monero’s rise is even more meaningful is given the external challenges it has faced so far. Monero achieved this upward trend despite the adverse factors of delisting from the exchange, regulatory pressure, and restrictions on speculative capital.

This year, Monero has risen 33%, and last year it recorded a 124% rally. This is an indicator of a fundamental shift in market sentiment beyond a simple price recovery. The renewed focus on privacy and anticipation for upcoming protocol upgrades appear to be fueling demand again, despite regulatory uncertainties still present.

XRP’s Correction Phase: The Impact of Bitcoin’s Bear Weakness

On the other hand, the market as a whole is facing a correction phase. XRP was affected by risk-off sell-offs across high-beta tokens, triggered by Bitcoin’s bearishness. XRP fell by about 5% from $1.91 to around $1.81, and the selling pressure accelerated as it broke through the key support at $1.87.

Traders currently see $1.80 as a critical support level. If the rebound from this level continues above the $1.87~$1.90 range, the current move could be interpreted as a simple correction rather than a deepening decline. This is a typical move for assets affected by broader market weakness, unlike technologically strong assets like Monero.

Monero’s technical signals and improved market fundamentals suggest that the market’s valuation of privacy-focused assets is changing, despite the challenges of the regulatory environment.