NewsBTC 2025-03-16 16:00:54

Stellar (XLM) Price Could Surge To $0.38 — Analyst Explains How

After a turbulent start to the week, the Stellar price seems to be finding some stability, briefly climbing above the $0.28 level this weekend. This growing momentum has sparked interest from market enthusiasts, with prominent crypto analyst Ali Martinez projecting the XLM token to soon experience a sustained price rise. Related Reading: Bitcoin Price Breaking Out Of This Pattern — Can BTC Reclaim $90,000? XLM Primed For 40% Price Gain In an X post on March 15, Martinez shared an intriguing projection for Stellar price after rebounding off a crucial level. Martinez noted that the altcoin could be on its way to a new local high over the coming weeks. This bullish projection is based on the formation of a descending channel pattern on the XLM daily chart. For context, a descending channel is a common pattern in technical analysis characterized by two major (downward-sloping) trendlines. The upper boundary line connects a series of lower highs and the lower channel line connects the lower lows. The asset’s price typically persists within the channel; with the upper boundary line acting as resistance and the lower channel line considered a support floor. The descending channel formation is usually a bearish pattern, indicating the persistence of a downward trend. When the price breaks down the lower channel line, it signals the continuation of the downtrend. Conversely, a break out of the descending channel can be used to identify trend reversal points — usually from a bearish trend to an upward trend. XLM’s price has been in this descending channel since November 2024, recently bouncing back from the lower boundary line. As observed in the chart above, the altcoin fell to support around the $0.23 level in early March, but it has since turned around toward the channel’s midline. According to Martinez, the next price target for XLM is $0.30 at the channel’s midline. However, the analyst believes Stellar could make a play for as high as $0.38 at the upper boundary line i.e. representing a potential 40% surge from the current market price. The last time the Stellar traded around the $0.38 region was in early February and has since plummeted as low as $0.23 since then. Stellar Price Overview As of this writing, the XLM token is valued at around $0.27, reflecting a 0.83% gain in the past 24 hours. According to data from CoinMarketCap, the Stellar price is down by 0.76% in the last seven days despite the woeful start to the week. Meanwhile, the altcoin’s value has declined by 17.25% in the past month. Related Reading: XRP Price To $110? Bollinger Bands Creator Reveals Why It Will Become A Market Leader Featured image from Medium, chart from Tradingview

Наиболее читаемые новости

Bank of Korea Rules Out Bitcoin Inclusion in...
2025-03-17
Solana ($SOL) celebrates 5 years since its of...
2025-03-17
Two Indicators Hit Unprecedented Levels – Ana...
2025-03-17
Bitcoin Holdings Dive: U.S. Bitcoin Spot ETF...
2025-03-17
Top 5 Cryptocurrencies To Buy After Trump’s C...
2025-03-17
Bitcoin’s Path Towards a New High: Key Price...
2025-03-17
If You Missed Pi Network’s 1000% Surge, Could...
2025-03-17
Analyst Says Crypto Whales Loading Up on Ethe...
2025-03-17

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения