Peter Brandt Eyes Bitcoin Cash as Breakout Nears $720 Level

TLDR

• Peter Brandt has identified a potential breakout setup for Bitcoin Cash near the $720 resistance level.
• Bitcoin Cash is currently trading around $655 which is just 10 percent below its 2024 high.
• Brandt described the Bitcoin Cash chart pattern as exciting and is watching the monthly close closely.
• Monero has broken past its previous resistance and is trading above $578 for the first time since 2018.
• Brandt compared Monero’s price pattern to silver’s historical breakout after a long consolidation phase.

Veteran trader Peter Brandt has turned attention to Bitcoin Cash (BCH), identifying a long-term breakout setup just below resistance, while also comparing Monero (XMR) to silver’s historic rally. His analysis has sparked interest as BCH nears key technical levels, and XMR reclaims lost ground. Both assets show strengthened momentum with increasing volume and trend indicators flashing upwards.

Bitcoin Cash Nears Key Breakout, Brandt Watches $720 Line

Peter Brandt recently shared a chart with over 700,000 followers, pointing to a clear horizontal resistance at $719.43. The level has been tested multiple times since the 2022 bottom but never broken. BCH is now trading near $655.58, only 10% away from this long-term barrier.

Brandt called the setup “the definition of exciting,” signaling a breakout could happen soon. The chart shows years of sideways movement and accumulation with rising volume. Traders have started paying attention as the ADX indicator also shows a strengthening trend.

The resistance line has acted as a ceiling since May 2021, and clearing it could shift sentiment. BCH has hovered in a narrow range, with failed attempts to regain momentum in past cycles. Now, technical indicators point to a different scenario with improved price structure.

Since late 2022, Bitcoin Cash has shown stronger recovery signs than previous failed rallies. It bounced from the capitulation wick and began forming higher lows. The setup suggests price consolidation may soon give way to upward pressure.

Momentum is building in volume, which supports the thesis of a potential breakout. Brandt is known for spotting classic chart patterns before they move. His attention adds weight to the bullish view developing on the charts.

The monthly close above $720 would mark the first new high in nearly three years. That would place BCH beyond its 2024 peak and out of the shadow of Bitcoin. “Keep an eye on the monthly close,” Brandt advised in his post.

Monero Pattern Resembles Silver’s Multi-Year Setup

Peter Brandt also drew attention to Monero (XMR), comparing its pattern to silver’s long consolidation. Silver doubled from its breakout level after years of slow climbs. Brandt suggests Monero may follow a similar route.

XMR traded below its 2018 highs for nearly seven years before breaking $578 earlier this week. This move erased previous resistance levels and brought the token closer to its all-time high. Analysts credit the rise to protocol upgrades and privacy focus.

Monero has gained 33% this year following a 124% rally in 2025. The price action shows consistent recovery since late 2024. Brandt’s chart outlines a familiar slow grind higher before a potential breakout.

He emphasized the pattern rather than the price, saying the focus is on market behavior. XMR’s recovery mirrors silver’s past rallies, marked by false starts and delayed returns. Now, momentum and narrative appear to align.

Despite regulatory pressure and delistings, Monero’s recovery remains on track. Recent sessions show strong support above former resistance. The coin continues to gain traction with privacy-focused investors and traders.

XMR now trades at $563.79 and remains close to the new high. Brandt’s analysis suggests patience could reward traders watching this slow-moving pattern. Breakouts often occur after periods of low activity, as seen in silver’s history.

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