Alarm bells are ringing for XLM, which has increased 6-fold in three weeks.

Stellar ($XLM ) has attracted attention by increasing by over 600 percent in the last three weeks.

The fact that SEC Chairman Gary Gensler will resign on January 20 has started a bull run in XRP. Rising to $ 1.6, $XRP has also paved the way for many altcoins.

Known as a rival to XRP, XLM has made a striking rally in November, also influenced by positive market conditions. XLM has gained 6-fold in value in the last three weeks.

AMBCrypto predicted that XLM could face a potential correction. In the prepared graphic analysis, two important support levels were highlighted.

AMBCrypto, who said, “XLM may be entering a pullback phase,” stated that the altcoin, whose market value is based on 15 billion, is under pressure from long (bullish) liquidations. According to the analysis, a liquidation cluster was formed in the $0.46 to $0.473 area.

The analysis predicted that long liquidations should be cleared and the XLM price could fall to $0.46. If there is no buying pressure at these levels, it is thought that the price could fall to $0.363.

According to the graphical analysis, $0.4283 and $0.363 could be potential support levels. These areas were marked as areas that XLM should hold on to maintain its uptrend.

If XLM continues its rise, it will test $0.766. If this resistance is overcome, the price could reach the all-time high of $0.8756. The Fibonacci indicator determines the $0.766 area and the $0.975 level as the next uptrend targets.