Monero (XMRUSD) is undergoing a significant bullish phase, evidenced by a rapid price increase from approximately $420 to its current level around $735. This upward movement signifies a breakout from a multi-year consolidation pattern that commenced in December 2017. Technical analysis, utilizing Fibonacci extensions from the overall pattern's high to low, projects initial price targets for Monero between $1,000 and $2,800. A more conservative intermediate target range is identified between $1,000 and $1,800. Long-term projections extend to significantly higher values, potentially reaching $10,000 to $20,000 within the current cycle. Shorter-term indicators, such as the 1-hour Relative Strength Index (RSI) and 4-hour charts, exhibit strong bullish momentum, despite observed bearish divergence on the 1-hour Moving Average Convergence Divergence (MACD), which the analysis suggests may not prevent further upward price action. Volume, while recently high, is showing signs of a slight decline. The analysis indicates that Monero typically demonstrates resilience in bear markets, with historical drops remaining below 90%, distinguishing it from many altcoins. A key threshold for sustained upward movement is crossing the $1,000 mark, after which a more extended consolidation period might occur before further rallies. Bitcoin Cash (BCHUSD), currently priced around $611, is also expected to perform favorably.