Monero (XMR) Hits New $610 All-Time High – Veteran Trader Shares Silver-Like Setup

Overview

Monero (XMR) has made headlines by breaking a significant macro resistance level, surpassing the $600 mark for the first time. This surge has captured the attention of traders and analysts alike, with comparisons being drawn to historical price movements of silver, suggesting potential for a substantial rally.

Monero’s Historic Breakout

On Monday, Monero experienced a remarkable performance, outperforming the broader crypto market with an increase of nearly 21%, reaching an all-time high of $611.01. This surge signifies a pivotal moment for the privacy-focused cryptocurrency, which has been at the forefront of the market rally at the beginning of the year, boasting a 43% increase over the past week. The driving forces behind this impressive performance include a renewed interest in privacy tokens and a redirection of liquidity towards Monero, which has propelled its market capitalization to $10 billion for the first time.

Veteran trader Peter Brandt has drawn an intriguing parallel between Monero’s current price action and the historical breakout of silver. He noted that both assets have demonstrated similar long-term chart patterns. Silver experienced a multi-decade price setup where it accumulated below a macro ascending resistance trendline before breaking out in Q4 2025, leading to significant price increases. Monero, too, has been forming a multi-year ascending trendline since its 2017 high, with a prior retest in 2021 where it reached a slightly higher all-time high before retracing.

As Monero has now broken through its ascending resistance, Brandt’s analysis suggests it could follow a comparable trajectory to silver’s recent breakout, entering a phase of price discovery.

Market Sentiment and Predictions

Market observer TraderSZ has shared an optimistic perspective on Monero’s potential, asserting that if the cryptocurrency maintains its momentum and successfully turns its crucial resistance area into support, it could reach multiple price targets. This includes an initial breakout level around $685, which would represent a significant rally. Additionally, further surges could see Monero approach levels between $790 and $900, mirroring silver’s recent price discovery pattern.

Analyst 0xMarioNawfal has echoed this bullish sentiment, emphasizing that Monero continues to trend higher with strong momentum and minimal pullbacks. He noted that the structure remains positive, with buyers actively participating in the market and no clear signs of distribution present at this time.

However, not all analysts share this optimistic outlook. Ali Martinez has raised concerns regarding a potential correction, suggesting that Monero has been forming a multi-year rising wedge pattern since 2017. According to his analysis, this pattern could indicate a failure to convert macro resistance into support, potentially leading to a long-term decline of around 50% towards the $300 area, which aligns with the pattern’s lower boundary.

From author

The recent developments surrounding Monero underscore the dynamic nature of the cryptocurrency market. The contrasting viewpoints among analysts highlight the volatility inherent in this space. While some see a path toward significant gains, others caution against potential downturns, reminding investors of the importance of thorough analysis and risk management.

Impact on the crypto market

• Monero’s breakout could influence other privacy tokens, potentially leading to increased interest and investment in similar assets.
• A successful bullish trend for Monero may revive investor confidence in the overall cryptocurrency market, encouraging more liquidity inflow.
• The comparison to silver could attract traditional investors looking for alternative assets, potentially broadening the cryptocurrency’s appeal.
• Concerns about a potential correction could lead to increased volatility, affecting trading strategies and market sentiment.
• The divergence in analyst predictions may result in varied trading behaviors, influencing short-term market movements and investor decisions.