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Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

Stellar (XLM) Chart Signals Major Rally —Is A 330% Surge Coming?

Semilore Faleti
Semilore Faleti
2 months ago
2 mins read
XLM

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The Stellar (XLM) market has registered a price boost in the past day gaining by 10.77% according to data from CoinMarketCap. This price bounce comes after a rather bearish week marked by significant losses across the general crypto market. Interestingly, as these digital assets show some minor recovery, renowned market analyst Ali Martinez has postulated that XLM may be preparing for a major bullish swing.

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XLM’s Bullish Flag Could Propel Prices To $1.20 – Analyst

In an X post on March 1, Martinez shared an interesting technical analysis of the XLM market.  According to the market expert, there is a bullish flag formation on the XLM/USDT 3-day trading chart signaling an incoming price surge.

For context, the bullish flag pattern occurs when an asset experiences a steep rise in price representing the flagpole followed by a consolidation period with a declining price movement representing the flag. On the XLM/USDT chart, the bullish flag is formed following a price rally in November 2024 which is trailed by a price correction phase to date.

XLM
Source: @ali_charts on X

However, while the bullish flag might signal a potential upward momentum ready to explode, Stellar must break beyond the upper boundary of the flag currently at $0.41 to confirm any price surge. Looking beyond this level, the altcoin will also face significant resistance to its upward movement at $1.00, $1.21, and $1.41 price levels respectively.

However, in the presence of sufficient buying pressure, XLM could surge by at least 330% upon confirmation of bullish intent suggesting a minimum price of around $1.20. This projected rise of Stellar stems from historical data from which a bullish flag is expected to produce market gains similar to the length of its flagpole.

Interestingly, the Relative Strength Index (RSI) on the XLM/USDT daily chart also supports the bullish potential of the altcoin. According to data from Tradingview, this RSI is currently at 4.59 headed in the upward direction, signaling more room for XLM price gains following its recent recovery.

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XLM Price Overview

At the time of writing, XLM trades at $0.3141 after its 10% price increase in the last 24 hours as earlier stated. Meanwhile, there is a slight reduction in market engagement as indicated by a 1.12% decline in daily trading volume.

It is worth noting that XLM still remains in the red zone on its weekly and monthly timeframes with losses of 5.94% and 27.28%, respectively suggesting larger bearish market control in recent times. For a bullish flag breakout to materialize, XLM traders must increase the current buying pressure and induce a higher trading volume.

XLM
XLM trading at $0.3178 on the daily chart | Source: Tradingview.com
Featured image from Bitpanda, chart from Tradingview
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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