Can XLM Soar 360% to $2? Heres Why This Analyst Thinks So
Notable market watcher EGRAG predicts Stellar (XLM) could soar 360% to $2, citing a key technical pattern.The recent bullish crypto market tide has lifted all boats, including Stellar (XLM). Over the past 30 days, the asset has staged a blistering rally that has seen it surge over 250%. Despite this run, one analyst has suggested that the asset is not done.Stellar (XLM) To $2?Prominent crypto analyst "EGRAG CRYPTO" has asserted that XLM is set to rally to the $2 price point. The analyst expressed this view in an X post on Friday. He cited a pattern that played out after XLM broke out of an exponential moving average (EMA) on the two-week candle chart in 2020. At the time, the asset rallied over 3,100% to highs around the $0.8 price point.Per EGRAG's chart, XLM broke above this EMA again in 2023, suggesting a potential target of around $2.27.For context, at the time of writing, XLM is exchanging hands for about $0.437. A rally to the $2 mark will represent a nearly 360% increase.
Text source: The Crypto Basic
