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Analyst Shares Stellar (XLM) Next Move, Says Be Ready
Stellar Lumens (XLM) is once again attracting attention after a bold technical analysis by crypto strategist Egrag Crypto. A comprehensive chart shared on X highlights a long-term bullish setup, suggesting that XLM is preparing for a major breakout.
As of the time of this report, XLM is trading at approximately $0.395. The analyst’s technical and fundamental indicators are aligning, prompting them to issue a clear call to action: “Be ready.”
Egrag Crypto’s Macro Chart
The provided chart showcases a compelling long-term structure spanning nearly a decade. At its core lies a massive cup and handle formation, often linked with powerful bullish reversals. The “cup” is demarcated by a rounded base extending from 2018 to 2023, while the emerging “handle” forms the final phase before a potential breakout.
XLM’s price has repeatedly bounced off a reliable diagonal support trendline, marking key accumulation zones along the way. Each previous bounce led to substantial rallies, and XLM’s current situation suggests another move is taking shape. The price is nearing the upper boundary of this structure, signaling a potential breakout point.
Egrag identifies three major upside targets:
1. Target 1 near $0.45
2. Target 2 around $0.65
3. An ultimate Fibonacci extension to $1.11, with an ultimate target at $1.51
XLM’s price has surpassed the $0.39 mark and appears to be entering the breakout phase highlighted in Egrag’s forecast.
Market Momentum: XLM Price Soars Past Key Resistance
In recent times, XLM has surged by over 25%, outperforming many other mid-cap cryptocurrencies. The rally is fueled by Bitcoin’s surge past $118,000, driving a broader market sentiment shift. XLM’s breakout above the $0.37 resistance level has brought renewed confidence to traders, with many now seeing $0.45 as the next technical target.
The price has also re-entered the upper zone of a multi-year ascending channel, providing further credence to Egrag’s projection. If current momentum is sustained, XLM could potentially aim for targets at the $0.65 and $1.10 zones in the medium term.
Strengthening Fundamentals: Institutional Adoption and Soroban
Egrag’s bullish outlook also coincides with a string of positive developments within the Stellar ecosystem. A notable instance includes Franklin Templeton’s tokenization of over $445 million in U.S. Treasuries on the Stellar network, marking one of the largest real-world asset integrations in the crypto space to date.
Furthermore, the impending Protocol 23 upgrade, set for release in August 2025, will introduce Soroban, Stellar’s native smart contracts platform, which is anticipated to enable advanced DeFi capabilities and programmable assets. This broadens Stellar’s utility and appeal to developers and institutions alike.
Stellar Aligns for Breakout, Are You Ready?
Egrag Crypto’s long-range analysis presents a technically and fundamentally supported case for a major move in XLM. Given the price nearing critical resistance and institutional activity on the rise, it is possible that Stellar may be poised for a breakout unseen since its previous cycle highs.
As Egrag advises, “Be ready.”
Source: timestabloid.com
