Time To Stack Stellar (XLM)? Analyst Calls For Epic 500% Price Breakout

Christian Encila

Last Updated: July 11, 2024 7:30 am

3 mins read

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The cryptocurrency noted for its quick and cheap cross-border transactions, Stellar Lumens (XLM), has lately been on a quiet trip. XLM trades sideways, apparently unconcerned by the turmoil while the larger crypto market swings wildly. But is Stellar ready for a brilliant (pun intended), or is this quiet a symptom of stagnation?

Trading In The Twilight Zone

XLM right now rests at $0.10, a price that it has stuck to for weeks. The general market attitude is rather negative, and trading volume is modest. This would cause some to think XLM is mired in a ruck. Analysers like Javon Marks, however, view this as a possible launchpad.

Technical Whispers: A Bullish Undercurrent

Respected crypto analyst Marks thinks XLM is gently building a bullish storm. He gestures to a recent breakout from a significant resistance level, a technical indication of a possible price increase. Marks claims that this breakthrough targets XLM with a shockingly $0.681.

$XLM (Stellar) has confirmed a bullish indication that can be indicating a continuation to be developing and with already broken out prices, it can be of notable size!

With these prices being broken out of a massive resisting trend, the target is at $0.681, meaning a >495% run… https://t.co/vwyEOVqX78 pic.twitter.com/2oMmCZPazQ

— JAVON⚡️MARKS (@JavonTM1) May 27, 2024

Reaching For The Stars: A 495% Price Increase?

Should Marks’ estimate be accurate, XLM investors might see an amazing 495% rise from present levels. Some analysts advise investors to monitor XLM closely based on this possible lunar expedition.

Beyond The Price Tag: Stellar’s Core Strength

Although the pricing estimate is somewhat interesting, it’s crucial to keep Stellar’s basic strengths in mind. Its emphasis on enabling quick and reasonably priced cross-border payments sets it in a good fit for possible acceptance in future.

Not withstanding temporary price swings, partnerships with financial institutions and its dedication to minimal transaction fees might be engines for long-term development.

XLM market cap currently at $3.12 billion. Chart: TradingView.com

A Stellar Investment Or A Gamble On The Stars?

The forecast of Javon Marks offers XLM investors a fascinating prospect. Still, the road to $0.681 is probably not straight-forward.

Stellar (XLM) has underperformed in relation to the larger cryptocurrency market even with a 20% rise in past year. Particularly, 72% of the top 100 cryptocurrencies have exceeded XLM’s expansion, and it has also trailed behind big names like Bitcoin and Ethereum.

This underperformance raises some possible issues about its relative strength and market posture. XLM is apparently in a negative phase and trying to sustain a favourable long-term trend if trading below its 200-day simple moving average.

XLM has also only had nine green days in the past thirty days, which makes just thirty percent of the total. Investors looking for quick returns find this lack of sustained positive momentum alarming.

Moreover, the asset is down a shockingly 88% from its all-time high, suggesting major negative risk and possible long-term difficulties. These elements give XLM a cautious view, implying that unless it can overcome these technological and performance-related challenges, it may suffer ongoing difficulties in the near future.

Featured image from BBC Sky at Night Magazine, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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