Monero (XMR) is leading the crypto market bounce by breaking out of a macro resistance level and breaching above the $600 barrier for the first time. A legendary trader has suggested that the cryptocurrency is mirroring silver’s historical breakout and could see a massive price discovery rally.
Monero Soars To New HighsOn Monday, Monero outperformed the rest of the market, surging nearly 21% toward its new all-time high of $611.01. The privacy-focused cryptocurrency has been leading the start-of-year market rally, experiencing a 43% increase over the past seven days.
Amid this performance, veteran trader Peter Brandt drew a parallel between Monero and Silver’s long-term charts, suggesting that the cryptocurrency could be near a massive breakout.
According to the chart, its price formed its long-term resistance during its 2011 peak, when it reached a slightly higher ATH of $49.83 before correcting. During its Q4 2025 rally, silver finally broke above this key level, nearly doubling its price toward its latest ATH of $86.23.
Now, XMR has broken out of its ascending resistance and could see a similar path to silver’s recent breakout into price discovery, the post suggested.
XMR to See 50% Breakout Or Breakdown Next?To him, the structure remains bullish, with buyers stepping in and “no clear signs of distribution yet.” As a result, he forecasted potential volatility but added that as long as the price holds above recent breakout levels, the trend will remain intact.
Based on this, XMR could likely fail to turn the macro resistance into support and begin a long-term 50% decline toward the $300 area, where the pattern’s lower boundary is currently located.
As of this writing, Monero is trading at $597, a 47.5% increase in the monthly timeframe.
