Stellar Market (XLM) recorded a price payment last day gained by 10.77 %, according to Data from CoinmarketCap. This price comes after a somewhat declining week, characterized by great losses in the general encryption market. Interestingly, since these digital assets show some simple recovery, Martinez, the famous market analyst, assumed that XLM may prepare for the main bullish swing.
The XLM bullifier can pay prices to $ 1.20 – analyst
in X post On March 1, Martinez shared an interesting technical analysis of the XLM market. According to the market expert, there is a thunderbolt mark on the trading scheme for 3 days from XLM/USDT, indicating an increase in incoming prices.
As for the context, the science style occurs when the assets experience a sharp rise in the price that represents the flag, followed by a period of unification with the low price movement that represents the science. On the XLM/USDT chart, the upscale brand is formed after the price raised in November 2024, which is behind the phase of price correction so far.
However, although the bullish science may indicate a possible ascending momentum ready for the explosion, the stars should now exceed the highest limits of science at $ 0.41 to confirm any price increase. If we look beyond this level, Altcoin will also face great resistance to its upward movement at $ 1.00, $ 1.21 and $ 1.41, respectively.
However, in a sufficient purchase pressure, XLM can rise by at least 330 % when confirming the upper intention, indicating the minimum price of about $ 1.20. This expected height of stars stems from historical data, which is expected to result from the bullish flag in the market similar to the length of the flag.
Interestingly, the RSI is on the daily XLM/USDT chart also supports Altcoin’s budget. According to the data from TradingView, RSI is currently at 4.59 in the upward trend, indicating more space for XLM price gains after its last recovery.
Overview of the xlm price
At the time of writing this report, XLM is trading at $ 0.3141 after increasing its price by 10 % over the past 24 hours as we mentioned earlier. Meanwhile, there is a slight decrease in market participation as shown in a 1.12 % decrease in the daily trading volume.
It should be noted that XLM is still in the red region at its weekly and monthly time limits with losses of 5.94 % and 27.28 %, respectively, indicating the control of the largest declining market recently. In order to achieve a budget to achieve it, XLM traders must increase the current purchase pressure and urge a higher trading volume.
