Stellar (XLM): Riding the Waves to $5 – Analyzing Stellar’s Journey

In a recent post shared by renowned crypto analyst EGRAG CRYPTO, insights into the trajectory of Stellar (XLM) were discussed extensively. The analysis specified the current status of XLM, its performances in prior times, and the future potential moves.

During the previous BullRun, XLM encountered difficulties in surpassing its previous all-time high (ATH), lingering around the $0.80 mark. In that time, XLM had four significant drops in the average region of around 47% (44.28%, 51.28%, 48.67%, and 43.3%).

Stellar (XLM) has dropped by around 48.16% from its July 2023 peak. However, despite the fall, the trajectory remains very stable, and the project is still on the right track.

It is an advised plea, especially with a rising trend, that investors take to the task of leveraging such dips as purchase opportunities. In the course of time, the wave count becomes clearer and by projections, a pump to the range of $0.50 would greatly add confidence to the wave count.

The formation of a ‘W’ pattern bears all significance as it has shown projections that the coin may rise to $1.5 using non-logarithmic measures and up to $5 using logarithmic measures, which clearly leaves the thing in favor of XLM.

Stellar (XLM) Short-term Price Prediction

According to data from CoinMarketcap, the current price of Stellar is $0.112674, trading at a 24-hour volume of $109.14 million. The price has moved up by 2.02% in the past 24 hours. It has a live market capitalization of $3.20 billion.

According to Stellar price prediction, as per Changelly, this cryptocurrency will undergo a marginal reduction in price to 1.26% and possibly below by 14th February 2024. In addition, technical indicators are pointing to the prevailing bearish market sentiment with a 76% Bearish Sentiment and a 70 Fear & Greed Index score (Greed).

Despite the recurrent obstacles, the path of XLM points out in most cases a promising growth opportunity, hence strategic entry into the market using maximized entry points to have returns.