- Stellar (XLM) recently rebounded from a low of $0.07592, gaining nearly 20% over the past 30 days.
- Despite a broader market sell-off, XLM’s resilience highlights its potential for upward growth.
- XLM has surged 10.66% in the last 24 hours, indicating strong upward momentum.
- Analyst predicts a 594% increase for XLM, targeting a price of $0.681.
Stellar (XLM) has been in the news recently because of its stellar performance after touching a recent low of $0.07592. Showing great elasticity, XLM at one time came back from this level and gained nearly 20% in the last 30 days.
Even more impressive in the light of a general sell-off across the wider market, which witnessed many cryptocurrencies plummeting downsmarty, the capacity of XLM to bounce back so quickly is a pointer to how strong it has been and potentially may head upwards.
The crypto market has switched from bearish to bullish of late, and many analysts and investors are keen on XLM in this renewed optimism. This optimism is a result of XLM’s strong recovery and potential for robust growth.
As of this writing, Stellar is changing hands at $0.102317. The 24-hour volume stands at $411.53 million, hence a market capitalization value of around $2.96 billion. Importantly, XLM prices are up 10.66% in the past day, giving bulls the upper hand going into the European session.
Analyst Predicts 594% Surge for Stellar (XLM)
Renowned cryptocurrency analyst Javon Marks has shared an optimistic outlook for Stellar (XLM), predicting a significant rise in its price trajectory. According to Marks, Stellar’s target price of $0.681 is well within reach as the cryptocurrency continues to exhibit strong performance.
Marks points to a crucial technical indicator: the formation of higher lows. This pattern, where each low point in the price is higher than the previous one, suggests a persistent uptrend. This trend has been in place since 2020-2021, and its continuation indicates that Stellar’s bullish momentum is far from over.
The importance of higher lows cannot be taken for granted. They indicate that buyers always find it within themselves to buy even at elevated levels, showing confidence in the growth of an asset in the future. This buying force has caused breakouts above previous resistance prices, strengthening the upward movement.
According to Javon Marks, these technical patterns could propel Stellar to a substantial 594% increase, potentially revisiting or even surpassing its all-time highs. If this forecast comes true, it would mean a dramatic surge for Stellar, bringing renewed interest and investment into the cryptocurrency.
Javon Marks’ analysis picks out a bullish outlook for Stellar (XLM), showing higher lows with breakouts to signal a strong uptrend. In case the cryptocurrency continues this trend, it would be able to log impressive gains, marking an important milestone in its journey.
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