XLM Price Struggles as Analysts Expect Over 21x Surge
XLM (Stellar) might rise above 2,160% based on historical bull cycles.
Today, XLM is down 1% in 24 hours.
Recently, XLM technical analysis has shown a strong rise.
Analysts are again predicting a 2,160% price rise for Stellar (XLM).
Javomn Markes expects the bitcoin to rise to $11.1 from $0.48. He used technical indicators and prior performance to analyze it.
Analysts expect XLM to rise enormously during bullish periods. History shows the historic asset has this potential.
We may utilize Fibonacci retracement to locate support and resistance levels to determine extension goals of $2.12, $8.39, and an astonishing $11.32.
If overcome, the $0.577 resistance level would stoke the flames above.
Analysts say these increased aims would exceed this barrier. While aggressive, XLM has made similar rally movements previously, most notably the 2017 bull run.
Stellar price: market outlook
Stellar's short-term success is modest despite its long-term promise. In the past 24 hours, XLM crypto has dropped 1.18% to $0.4787.
XLM's 24-hour volume dropped 19.32% to $900.55 million.
Strangely, its market value remains strong at $14.58 billion, remaining within the top 20, but activity is low, so investors are waiting.
Technically, XLM is mixed. The token rises on the four-hour chart.
Support is at $0.45 while resistance is approaching $0.50.
This channel shows relative stability, but a dramatic breakout in either direction will certainly define the following weeks.
On the 4-hour chart, the Awesome Oscillator (AO) shows weakening bullish momentum, which might cause a correction if buyers don't take control.
If the cryptocurrency breaks over $0.50 resistance, price tests the Fibonacci chart's $0.577 region are possible.
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