Monero (XMR) has drawn fresh attention after veteran trader Peter Brandt compared its long-term price chart with silver ahead of the metal's January rally, though he stopped short of predicting a similar surge for the privacy-focused token.

Monero is a privacy-focused cryptocurrency that uses cryptographic techniques to obscure transaction details such as sender, recipient, and amount, in contrast to transparent public blockchains where transfers are visible to anyone, and it is frequently tracked peers like Zcash.

Brandt Sees a Familiar Pattern in Monero

Brandt is a veteran commodities and futures trader known for applying classical chart techniques to financial markets, an approach in which recurring price formations, rather than fundamentals, serve as the primary analytical input. In a post on X dated October 21, Brandt, who publishes as The Factor Report, shared monthly charts of both assets and said Monero's structure reminded him of silver before its move toward $125 per ounce.

"With the exception of the Jan 2026 OOL movement, the chart structure in $XMR reminds me of Silver prior to its run to $125 $SI_F"

— The Factor Report (@PeterLBrandt) October 21, 2026 (source)

In the post, $XMR denotes Monero and $SI_F is the symbol for silver futures. The trader excluded an unusual move in January 2026 from his comparison, and his observation centered on chart shapes rather than demand, supply, or any change to Monero's underlying network.

Silver reached roughly $121.6 per ounce in late January, then fell sharply. The metal has since lost more than half of its peak value, showing how quickly gains can reverse. Meanwhile, Zcash's recent price correction has kept another privacy-focused cryptocurrency in focus.

XMR Approaches a Longstanding Price Barrier

Brandt's monthly Monero chart shows a downward resistance line stretching back to the 2017-2018 rally. Later peaks, including the 2021 high, sit near that line, and repeated tests have not yet produced a clear, lasting break. In classical charting, a line that has capped multiple rallies across several years is treated as a reference barrier, and technicians generally look for a sustained close beyond it before viewing the structure as changed.

XMR recently moved closer to this barrier after recovering from earlier lows. On Brandt's chart, the asset remained above both its eight-month and 18-month moving averages, a sign that prices have held above their longer-term averages. Moving averages smooth short-term price fluctuations and are commonly used to gauge trend direction on a given timeframe, which is why their placement relative to price is often read alongside pattern analysis.

Other privacy tokens have seen shifting prices and development plans. A recent Zcash market report described a price rebound alongside a network upgrade aimed at reducing block times from 75 seconds to 25 seconds. Neither development establishes where Monero trades next.

Market Snapshot

Monero traded near $575.89 at the time of the supplied market snapshot. Over the previous 24 hours, XMR ranged from $570.44 to $625.37, and it had gained roughly 90.3% over the past 12 months. The token ranked 13th among cryptocurrencies by market capitalization, a measure of the combined value of a token's circulating supply.

The wider crypto market has shown uneven activity. US spot funds recorded renewed Bitcoin ETF inflows on October 19, even as other assets faced selling pressure. Those fund flows do not directly measure demand for Monero.

This article was first published by CoinCentral.