CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
NewsBTC 2025-03-09 09:00:57

Stellar Price Could Target $0.33 In Next Move — Time To Buy?

The Stellar price has crashed by double digits over the past week, mirroring the dwindling climate of the altcoin market. However, if the latest price action is anything to go by, XLM could be gearing up for a significant bullish rally in the coming days. Here’s How XLM Is Gearing For A 20% Move In a new post on the X platform, prominent crypto analyst Ali Martinez put forward an interesting prognosis for the Stellar price over the next few days. According to Martinez, the price of XLM could experience some relief soon, as a 20% upward move appears to be on the horizon. Related Reading: Bitcoin Price Forecast: LTF Head And Shoulders Pattern Predicts Crash – Here’s The Target The reasoning behind this bullish projection is the formation of a descending triangle pattern on the 1-hour timeframe of the Stellar price chart. The descending triangle is a technical analysis pattern that looks like a right-angled triangle with a diagonal falling upper trendline (connecting a series of lower highs) and a horizontal lower trendline (connecting the swing lows). Typically, a descending triangle formation is considered a bearish technical analysis pattern or a continuation pattern with an established downtrend. Nevertheless, a descending triangle can also be a trend reversal pattern and a bullish signal, with the price breaking out in the initial trend’s opposite direction. As shown in the chart above, the price of Stellar recently found support at the horizontal lower trendline set around $0.274, bouncing back toward the $0.28 mark. However, Martinez suggested that the XLM price could be targeting the resistance zone between $0.28 and $0.29. If the Stellar price does break out of the descending triangle pattern, Martinez expects the altcoin to move up by at least 20%, placing the target at around $0.33. For context, the price target for the descending triangle pattern is calculated by adding the vertical height between the sloping and horizontal trendlines. A move toward $0.33 could be exactly what the price of Stellar needs to kickstart a fresh bull rally. In a separate post on X, Martinez revealed that the $0.55 mark might be a crucial level to watch for a sustained bull run. The chart above shows that the price of XLM has been rejected at $0.55 level multiple since 2018. However, it is worth noting that the more times the price tests a level, the weaker it becomes and the more likely it is to be broken. Stellar Price At A Glance As of this writing, the price of XLM stands at around $0.276, reflecting a 1.6% decline in the past 24 hours. According to data from CoinGecko, the altcoin’s value has fallen by more than 11% in the past seven days. Related Reading: AAVE Price To $360? Crypto Analyst Identifies Pattern For Bullish Breakout Featured image from Adobe Stock, chart from TradingView

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta