Stellar (XLM) Price Could Reach $0.38, Analyst Projects 40% Gain
The Stellar (XLM) price has stabilized, briefly surpassing $0.28 over the weekend after a volatile week. Analyst Ali Martinez forecasts a potential 40% price increase for XLM based on technical patterns.
XLM Price Projection
- Martinez predicts XLM could reach a new local high soon.
- The analysis highlights a descending channel pattern on the XLM daily chart.
- This pattern indicates the asset's price typically fluctuates between resistance and support levels.
- A breakout from this channel may signal a trend reversal.
- XLM recently bounced back from a support level around $0.23.
- Targets include $0.30 at the midline and potentially $0.38 at the upper boundary.
Current Market Status
- XLM is currently valued at approximately $0.27, with a slight 0.83% gain in the last 24 hours.
- The price has decreased by 0.76% over the past week and by 17.25% in the last month.
