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

Monero (XMR) is main the crypto market bounce by breaking out of a macro resistance degree and breaching above the $600 barrier for the primary time. A legendary dealer has instructed that the cryptocurrency is mirroring silver’s historic breakout and will see an enormous worth discovery rally.

Monero Soars To New Highs

On Monday, Monero outperformed the remainder of the market, surging practically 21% towards its new all-time high of $611.01. The privacy-focused cryptocurrency has been main the start-of-year market rally, experiencing a 43% enhance over the previous seven days.

XMR’s rally has been fueled by renewed curiosity in privacy tokens and redirected liquidity towards the venture, which has pushed its market capitalization to $10 billion for the primary time.

Amid this efficiency, veteran dealer Peter Brandt drew a parallel between Monero and Silver’s long-term charts, suggesting that the cryptocurrency might be close to an enormous breakout.

In an X submit, Brandt compared Monero’s present rally to silver’s historic breakout, which led to an enormous run towards new highs. Silver noticed a multi-decade worth setup by which its worth collected beneath and retested a macro ascending resistance trendline.

According to the chart, its worth fashioned its long-term resistance throughout its 2011 peak, when it reached a barely increased ATH of $49.83 earlier than correcting. During its This autumn 2025 rally, silver lastly broke above this key degree, practically doubling its worth towards its newest ATH of $86.23.

Similarly, Monero has been forming its multi-year ascending trendline within the month-to-month timeframe since its 2017 high. In 2021, the cryptocurrency retested this space, additionally hitting a barely increased ATH earlier than retracing.

Now, XMR has damaged out of its ascending resistance and will see an analogous path to silver’s latest breakout into worth discovery, the submit instructed.

XMR to See 50% Breakout Or Breakdown Next?

Market observer TraderSZ not too long ago shared an optimistic outlook for Monero as soon as it broke by means of its essential resistance space and turned this degree into assist. To the dealer, the cryptocurrency may attain three important worth targets if momentum continues.

Per the submit, the preliminary breakout degree may attain the $685 space, a greater than 30% rally from the resistance degree. Moreover, it may surge between 50% and 80% towards the $790 and $900 ranges, like silver’s latest worth discovery development within the month-to-month chart.

Analyst 0xMarioNawfal additionally highlighted XMR’s efficiency as “worth continues to pattern aggressively increased, breaking by means of earlier resistance ranges with sturdy momentum and minimal pullback.”

To him, the construction stays bullish, with consumers stepping in and “no clear indicators of distribution but.” As a end result, he forecasted potential volatility however added that so long as the value holds above latest breakout ranges, the pattern will stay intact.

Nonetheless, Ali Martinez posted a extra regarding forecast for the cryptocurrency, suggesting {that a} vital correction could also be across the nook. According to the chart, Monero has been forming a multi-year rising wedge sample since 2017, with the value bouncing between the higher and decrease boundaries.

Based on this, XMR may probably fail to show the macro resistance into assist and start a long-term 50% decline towards the $300 space, the place the sample’s decrease boundary is at the moment positioned.

As of this writing, Monero is buying and selling at $597, a 47.5% enhance within the month-to-month timeframe.