A naukri.com initiative
TronWeekly
2w
4
Image Credit: TronWeekly
Stellar (XLM) Eyes Reversal as Price Targets $0.6659 After Volatility
- Stellar (XLM) is showing signs of recovery, bouncing back from a recent low of $0.2177 amidst market volatility.
- Key technical confluences are forming, with a long-term trendline and horizontal support zone aligning on the weekly chart.
- Analysts predict breakout targets at $0.4122, $0.5262, and $0.6659 if bullish momentum persists.
- Accumulation signals indicate growing investor interest and potential for a sustained rally.
- XLM is gaining momentum in the crypto space, with its price aiming towards the key resistance level of $0.6659.
- At present, XLM is trading at $0.2292 with a 24-hour trading volume of $222.5 and a market capitalization of $7.15B.
- Despite recent market volatility, XLM is down by 1.47% in the last 24 hours and 12.88% over the past 7 days.
- XLM's price is expected to recover and offset losses incurred during the recent dip.
- A prominent analyst notes that XLM is at a critical stage, indicating a convergence of key technical support levels that will determine its next significant move.
- Market sentiment remains cautious due to Bitcoin's decline, but XLM demonstrates resilience and a potential bullish setup that experts are monitoring closely.
- The intersection of a long-term ascending trendline with a major horizontal support zone on the weekly chart suggests a potential price reversal with strong buyer demand.
- If the support holds and a bullish reversal occurs, XLM could experience a substantial rally with upside targets at $0.4122, $0.5262, and $0.6659.
- These targets are supported by Fibonacci levels and historical market structures, providing clear checkpoints for traders.
- XRP also shows strength as traders recover from weekend panic selling.
Read Full Article
Like
For uninterrupted reading, download the app