Veteran trader Peter Brandt has noted a striking similarity between Monero's (XMR) long-term chart structure and silver's price action before its impressive rally to nearly $125 earlier this year. Brandt, in a post on X, suggested this could indicate a major breakout for the privacy coin. Monero is currently trading at approximately $575.89 and has seen a 90.3% increase over the past year. However, Brandt did not provide a price target and cautioned that silver's rally was followed by a sharp correction.