Stellar Price Could Target $0.33 Amid Expected 20% Upswing
The price of Stellar (XLM) has decreased by over 11% in the past week, reflecting broader altcoin market trends. However, analysts suggest a potential bullish reversal.
XLM's Potential for a 20% Increase
- Analyst Ali Martinez forecasts a possible 20% rise for XLM soon.
- A descending triangle pattern on the 1-hour chart indicates potential upward movement.
- This pattern typically suggests bearish continuation but can signal a trend reversal.
- XLM found support at approximately $0.274, rebounding towards $0.28.
- Target resistance zone is between $0.28 and $0.29.
- If breakout occurs, XLM could reach around $0.33.
- $0.55 is identified as a significant level for future bullish momentum.
Current Price Overview
- XLM is currently priced at about $0.276, down 1.6% in the last 24 hours.
- Overall decline exceeds 11% in the past week.
