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

Semilore Faleti
Semilore Faleti
2 months ago
2 mins read
Stellar

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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.

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2 months ago

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
Source: @ali_charts on X

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
XLM trading at $0.2747 on the daily chart | Source: XLMUSDT chart on the daily chart 

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

Featured image from Medium, 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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