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Stellar (XLM) tries to reclaim a recently lost level that could propel the price to a retest of an important resistance zone. Some market guards suggested that the price could prepare for a huge increase in a new all -time High (ATH).
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Stellar is getting ready for 300% breakout
In the past day, Stellar has seen an increase of 9%, recovering from this week’s market and again to the $ 0.30 marking. According to Crypto analyst Ali Martinez, Stellar could witness An outbreak of 300% as soon as the cryptocurrency seems to form a bullish pattern.
After the November 2024 outbreak, XLM began to form a bullish flag, with the 600% after the American election rally that formed the flagpole of the pattern. Since then, Stellar has been consolidated between the price range of $ 0.63 and $ 0.25, which forms the flag of the pattern.
Since he reached his 3-year-old height in December, XLM has seen a price of 52%, so that he has not been broken above his down trend line. During the edges of February, the cryptocurrency returned nearly 40% of its monthly opening, which affected the lowest price action since November.
During the weekend, Stellar followed the rest of the cryptomarket, fed by the announcement of US President Donald Trump of an American crypto -strategic reserve consisting of “Made in the USA” cryptocurrencies such as XRP, Cardano (Ada) and Solana (SOL).
XLM rose around 25% compared to the lower levels of the range to $ 0.37, so that the most important resistance of $ 0.35 was re -tested. The range of $ 0.32- $ 0-35 is a key zone for the cryptocurrency since the outbreak of Q4 2024, which serves as a crucial level of support until it becomes resistance in February.
As the analyst noted, “a continuing break above the $ 0.42 resistance could activate a bull run to $ 1.60.” Nevertheless, the recent performance of the Cryptocurrency did not succeed in reclaiming an important level in the central zone of his price range of 3 months.
XLM after the 2017 playbook?
XLM was unable to hold the $ 0.35 level in the midst of the Monday market dump, with 20% and knew the Sunday profits. Break over this resistance can send the price from Stellar to the upper range of the bull flag, while it does not recover, it can send the price to the lower reach of the pattern between $ 0.20 and $ 0.23.
On Tuesday, the cryptocurrency continued to bleed and recovered its recent lows as support. XLM bounced on Wednesday morning of $ 0.27 above the level of $ 0.30 and tried to win it back.
Technical Analyst Charting Guy emphasized that XLM’s Relative Strength Index (RSI) has recently broken from a 96-day downward trend “while the price consolidated in the Golden Pocket with time capitulation that came to people.”
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He too noted Those XLM’s bull flag “happens to focus on the 1.272 Fibonacci level at around $ 2.46. After the recent performance, the cryptocurrency seems to follow the pattern 2017, which” adds more confluence to 1,272 FIB Target, “he explained.
In Q4 2017, Stellar saw a similar price drop, followed by a consolidation period within a bullish flag. XLM then broke out of this pattern and at the beginning of 2018 more than 190% rose to Ath. To the analyst: “As soon as we break above the top of the golden bag, the game is on.”
At the time of writing, Stellar acts at $ 0.30, an increase of 2.4% in the weekly period.
Featured image of unsplash.com, graph of TradingView.com
