Peter Brandt Says Monero Chart Resembles Silver Before Its $125 Rally

Trader Peter Brandt compared Monero (XMR) with silver’s chart before the metal climbed to $125, suggesting a large move could be developing without giving XMR a price target.

Brandt made the comparison Oct. 21 using a monthly Monero chart. After a long period of consolidation, XMR repeatedly tested or moved through resistance around $500 to $600. Its moving-average structure was beginning to strengthen.

The $125 figure refers to silver’s rise, not a level Brandt set for Monero. His comparison focused on the shape of the charts.

Brandt had previously named Monero his favorite chart among several altcoins he reviewed. In that earlier discussion of Monero and XRP, he warned that XRP faced substantial overhead supply. He also said he could assess Monero’s chart without understanding its fundamental narrative.