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

Share This Post

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.

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.

Stellar

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.

Stellar

Related Reading: XRP Price To $110? Bollinger Bands Creator Reveals Why It Will Become A Market Leader

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Crypto News: Bank of Korea Rejects Bitcoin for Foreign Exchange Reserves

The post Crypto News: Bank of Korea Rejects Bitcoin for Foreign Exchange Reserves appeared first on Coinpedia Fintech News The Bank of Korea (BOK) has firmly stated that it has “never

Coinbase’s Government Network Expands—145 US and 29 Global Entities Onboard

Coinbase is deepening ties with 145 US government entities as the nation accelerates bitcoin adoption, signaling unprecedented institutional demand and a seismic shift in crypto policy Coinbase

Ripple News Today: XRP Proposal Aims to Unlock $1.5 Trillion for Bitcoin Reserves

The post Ripple News Today: XRP Proposal Aims to Unlock $15 Trillion for Bitcoin Reserves appeared first on Coinpedia Fintech News After a long legal tug-of-war under Biden’s leadership, Ripple is

Peter Schiff: Bitcoin Could Crash Below $65K if Nasdaq Enters a Bear Market

Bitcoin faces a steep decline if the Nasdaq downturn deepens, warns Peter Schiff, predicting a wave of panic selling that could shake investor confidence and destabilize markets Peter Schiff Predicts

SEC vs Ripple: How Lawsuit Over XRP Could Wrap up in Days

A legal expert has outlined how the SEC’s lawsuit against Ripple over XRP could end within days, but a major hurdle—navigating the court’s injunction—may complicate the

Is The Bitcoin Cycle Peak In? Historical Halving Data Suggests Upside Potential Into Late 2025

Bitcoin is now down over 29% from its all-time high (ATH) in January, and speculation about a coming bear market is growing among investors After weeks of heavy selling pressure, Bitcoin has entered