Peter Blunt’s chart analysis is making waves, and it’s offering some interesting observations about what could happen next with Monero.

In a chart recently shared by veteran analyst Peter Blunt, he compares the price formation patterns of Monero and silver. The common point is this: they tend to stay flat for a long period, gradually updating their highs, and then break out all at once. In silver’s case, it has repeated that pattern over several decades, so Monero may be approaching a similar situation.

Monero has been sluggish for the past 7 years, staying below the 2018 peak, but lately it’s started to move significantly. There have been delistings from exchanges and regulatory pressure, leaving it sidelined by the market for a long time. But as interest in privacy coins has grown and expectations for protocol upgrades have risen, it feels like the flow is starting to change.

From Peter Blunt’s perspective, what matters isn’t timing, but patience. After the market has been left alone for a long time, it surges once the macro environment and the narrative line up. Just like silver did, Monero might be getting close to that stage.

But when you look at the current situation, Monero is in a period of significant correction this year. Compared with last year’s 124% rally, there’s been strong selling pressure recently as well. The uncertainty around regulation is still casting a shadow over the industry, and short-term volatility is likely.

Peter Blunt’s analysis, I think, is less about predicting specific price targets and more about pointing out long-term patterns in market psychology and price structure. Even so, whether the renewed reappraisal of privacy tokens is real or just a temporary trend will depend on future regulatory developments.