Strong Breakout Expectation in Monero Price

The privacy-focused cryptocurrency Monero has been catching the attention of investors with its recent performance. Experienced trader Peter Brandt noted that Monero could enter a strong upward cycle similar to silver after years of horizontal consolidation. Brandt views this situation as a strong signal, especially in terms of technical analysis.

According to Brandt, Monero's long-term price structure resembles the significant jump experienced by silver after years of being suppressed. In the charts shared by the analyst, he emphasized that patience is more important than timing. Both silver and Monero went through a process of long-term horizontal movement and disappointing upward attempts that exhausted investors. However, such price structures often technically indicate strong breakouts.

Brandt reminds that creating higher lows and limited highs over the years is a classic precursor to upward explosions. The Monero side has demonstrated this structure more clearly in recent weeks. The XMR price rose above 578 dollars on Monday, reaching its highest levels historically and surpassing the 540 dollar levels seen in 2018. Since the last quarter of 2024, Monero has managed to maintain its upward momentum, successfully overcoming previously experienced strong selling pressures.

Brandt's comparison to silver not only provides a price target but also highlights market psychology. In a long-ignored asset, the combination of conditions and narrative suggests that large fluctuations can occur during movements.

According to analysts, the rise in Monero is not solely based on its technical appearance. The renewed interest in privacy-focused cryptocurrencies and the expectations of upcoming protocol updates are increasing demand for Monero. Negative factors such as regulatory pressures and exchange delistings are still impactful in the sector, yet XMR has managed to remain strong despite this. Based on data, Monero has increased by 33% this year, adding to last year's rally of 124%.