Peter Brandt says XMR the monthly-chart pattern may resemble silver's trajectory before its major rally
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AT A GLANCE
Peter Brandt says XMR the current pattern resembles silver's before its major rally and may signal a substantial advance.
Article
⚡️Peter Brandt suggests that Monero may be poised for a major move
BlockBeats reported,October 21, the renowned trader and chart analyst who successfully predicted 2018's Bitcoin crash, posted a XMR technical chart of Monero, stating that the current Monero pattern is highly similar to silver's pattern before its major rise to 125 USD, potentially signaling a similarly large-scale rally.
In the XMR monthly chart he posted,XMR after a prolonged consolidation, the price repeatedly tested/broke through near key resistance (roughly the 500–600 area), while the moving-average structure has also begun to strengthen.
Original link https://m.theblockbeats.info/flash/372931
Key points
01
BlockBeats said that Peter Brandt, on October 21, released a XMR technical chart of Monero.
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Peter Brandt stated that the current Monero pattern is highly similar to silver's pattern before its major rise to 125 USD.
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Peter Brandt believes Monero may be poised for a similarly large-scale rally.
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The article stated that the XMR monthly chart shows that, after a prolonged consolidation, it repeatedly tested or broke through near the key resistance area of roughly 500–600.
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The article stated that XMR's moving-average structure has begun to strengthen.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a bullish assessment based on price charts. Peter Brandt compares XMR's current price action with silver's pattern before its previous major rise, and focuses on the 500–600 area and changes in moving averages; however, “pattern similarity” alone cannot confirm that a subsequent rise is certain.
Why it matters to readers
This view may increase market attention toward XMR; whether the described move will actually materialize still requires observing its actual price performance near the 500–600 area.
Beginners should view this as a trader's technical-analysis opinion, rather than as evidence of an advance that has already occurred or a certain investment outcome.
Risks and unknowns
The evidence merely relays Peter Brandt's assessment and does not provide the content of his original post for verification.
Silver's rise to 125 USD and the related pattern analogy have not been independently verified in the evidence.
XMR Whether it can effectively break through or hold above the 500–600 area remains unclear.
Technical-chart views are subjective and cannot guarantee that prices will move in the predicted direction.
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Related concepts
Monthly chart
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