Stellar (XLM) price seeks breakthrough: 11x rise, but when?
The price of #Stellar (XLM) is looking for a breakout: 11x growth, but when?
Stellar (XLM) is coming out of a multi-year consolidation phase.
Analysts are predicting 11x growth, targeting $6 to $BTC key resistance at the $1 level could trigger an explosive upward momentum.
analysts say the price of Stellar (XLM) is poised for a significant rise and could follow the 2017 rally. #Cryptocurrency analyst JavonTM1 believes that if history follows a certain pattern, #XLM could rise up to 1,100% and prices will be in the range of $6-9 USD.
This prediction is made in light of Stellar's long-term chart pattern, which has a similar pattern to the previous price surge in 2017.
The chart above shows that tokens spend a long time in a channel before breaking out, which is what Stellar is doing. The chart shows the general trend for Stellar: from 2016 to 2017, Stellar went through a multi-year consolidation followed by a price spike with a 10x return; according to JavonTM1 , XLM also experienced a similar situation after breaking out of a multi-year channel; LINE_. BREAK This repeating pattern suggests that Stellar could go parabola again if it successfully breaks historical resistance. Analysts note that the price zone between USD 0.85 and USD 1.00 is a key level for the formation of an upward momentum. If prices break above this zone, significant buying should commence to push XLM higher.
The expected target range of $6 to $9 corresponds to the size of Stellar's previous breakouts. Analysts believe that strong technicals coupled with positive market sentiment could push Stellar towards this level.
The daily chart shows that Stellar continues to rise due to recent price movements. In November, the XLM price #rose to US$0.60 after a significant spike and then declined slightly.
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