Stellar Lumens ($XLM ) has recently broken out of a falling wedge pattern, a technical formation often viewed as a strong bullish signal. This breakout suggests significant upside potential in the coming weeks and months. Here's an analysis of what to expect:
Short-Term Price Target:
A price target of $1 is anticipated within the next 1 to 1.5 months, supported by the recent breakout and bullish market conditions.
Retest Levels:
A pullback to the $0.63 to $0.70 range is expected, which corresponds to previous all-time highs. This retracement could serve as a solid entry point for potential buyers.
Long-Term Potential:
With momentum building, XLM has the potential to reach levels beyond $2 in the long term, as the breakout signals a shift toward stronger upward price movement.
As of now, XLM is trading at $0.343, reflecting a 2.81% increase. This breakout marks the beginning of a potentially significant rally, and market participants should stay alert to further developments.
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