Veteran Trader Peter Brandt Says Monero (XMR) Chart Mirrors Silver Before Its $125 Run
Key Takeaways
- •Peter Brandt posted a chart comparison on X on October 21 that places Monero's monthly chart beside silver's price structure from the period before the metal reached $125.
- •Brandt's analysis indicates that Monero's current long-term formation mirrors silver's pattern prior to its climb to $125, though chart analogs show similarity without guaranteeing a repeated outcome.
- •Brandt is a prominent classical chartist who founded the research and trading firm Factor LLC and wrote Diary of a Professional Commodity Trader in 2011, later extending his methods to digital assets such as Bitcoin.
- •Monero, launched in 2014, is a privacy-focused cryptocurrency that conceals sender, recipient, and amount details using cryptographic tools including ring signatures and stealth addresses.
Peter Brandt has spent close to five decades reading commodity and crypto charts, and when a trader with that many market cycles behind him publishes a long-term comparison, desks tend to check the tape.
On October 21, Brandt posted such a comparison on X, placing the monthly chart of Monero (XMR) beside the chart of silver from the period before the metal's run to $125. The chart study, as presented by Brandt, indicates that Monero's current long-term structure mirrors silver's pattern prior to its advance to $125.
Comparisons of this kind — often called chart analogs — are a staple of classical technical analysis, in which a live price structure is set beside a historical one to gauge how closely the two shapes align. As a method, an analog describes pattern similarity; it does not, on its own, guarantee that history repeats.
A Closely Watched Chart Analyst
Brandt is among the most widely followed classical chartists in the industry. He founded the commodity research and trading firm Factor LLC and is the author of Diary of a Professional Commodity Trader, published in 2011. Although his career is rooted in commodity markets, he has in recent years applied the same charting methods to digital assets, with his Bitcoin analyses drawing particular attention.
That track record across multiple asset classes is part of why his long-term comparisons tend to circulate quickly among traders who follow chart-based research.
Monero and Silver
Monero (XMR) is a privacy-focused cryptocurrency launched in 2014. It is designed to conceal transaction details such as sender, recipient, and amount through cryptographic tools including ring signatures and stealth addresses.
Silver, a precious metal that has served monetary and industrial purposes for thousands of years, recorded its $125 run in the period referenced by Brandt's comparison. Brandt's observation places Monero's monthly chart in direct comparison with that phase of silver's history.
Going forward, chart watchers can follow whether XMR's monthly structure continues to line up with the silver analog as Brandt presented it, with any follow-up posts from Brandt on X the place where an updated version of the comparison would likely appear.
This content was first published on COINOTAG.
