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#Stellar Price Prediction: $XLM to Soar 70% After Breaking Through This Critical Resistance Level
At its current price of about $0.139, Stellar has underperformed in comparison to other alternative cryptocurrencies.
If the $0.142 weekly level were to flip, it might set off a 60% rise to $0.229.
The bullish argument for XLM will be rendered useless if the price falls below the $0.107 support level.
For over two years, the price of Stellar (XLM) has been stuck below a crucial barrier level. With each new height, XLM challenges this barrier and prepares for a breakout rally.
Price has reached a critical juncture
In the middle of May 2022, the price of Stellar fell below the $0.142 support level, and it has remained below that level for about two years. This milestone was significant even before May 2022; it was the catalyst for a 484% increase in value between the end of 2020 and the middle of 2021. Hence, it is essential to retake this level and do a flip in order to ascend.
Keep in mind that if the $0.142 resistance level can be successfully turned into a support floor, it would indicate that Stellar price is about to see a surge. A retest of the $0.229 level, which is around 70% away, will likely be the target of XLM bulls in this scenario.
After falling below the 50-point mark, the Relative Strength Index (RSI) has now rebounded, indicating that the upward momentum is not yet ended. A similar optimistic view is shown by the Awesome Oscillator (AO).
Stellar price may retest the $0.107 support level if it encounters more resistance from XLM holders' selling pressure surge or a negative market outlook. Attempts to break out above $0.142 have used this level as a basis, making it vital.
Stellar prices might potentially turn this level into resistance, leading to a lower bottom and so disproving the bullish premise. The XLM price can fall by 35% and hit a new low of $0.069 in this scenario.
