Stellar Lumens (XLM) whipped up 12% gains on Thursday following a broader crypto market uptick. The popular altcoin has successfully pushed through the $0.18 resistance line, and seasoned market analysts are now aiming for more.
Analyst Draws Stellar’s $80 Billion Dollar Dream
In a fresh technical analysis by Vuori Trading, an $80 billion market cap projection was made. Honestly, that’s far from the current $6.3 billion market capitalization, but the chart analyst expects a 14x uptick for XLM for a couple of reasons.
Judging from the present Stellar price chart, the horizontal green support around the ~4.5–5B zone that has held successfully. Now, these Fibonacci levels marked on the chart come into play.
- 0 Fib ≈ 502M
- 0.236 ≈ 4.53B
- 0.382 ≈ 7.03B
- 1 Fib ≈ 17.58B
The ultimate target at the 4.764 extension is roughly 81.86 billion. The price chart shown depicts action with Stellar Lumens (XLM) coiling near the trendline with key support maintained after previous higher moves, which the author interprets as the setup before the next leg-up.
Stellar Rockets 137% In Volume As Bears Shade
With the global crypto markets inking 8% gains in daily market growth, the risk-on appetite just came back & utility altcoins like XLM fall perfectly into that narrative. With Bitcoin (BTC) scorching past $72,000 & Ether (ETH) hitting $2,300, Stellar’s Fibonacci-measured market levels start to make sense if that setup is met with enough demand.
On XLM’s own tape, the grind higher comes more gradual than a sudden spike. The price in this period moved from about $0.1535 to about $0.1580, with market cap rising from roughly $5.30 billion to $5.46 billion. There is no single intra-day candle that obviously represents a bullish headline, spreading the upswing across the session.
Measured by the Bollinger Bands (BOLL), we can see a crystal-clear breakout above the $0.178 territory, wiping out $542.21K in short-selling liquidations. This solidifies the breakout from the SuperTrend’s greenline too, located at $0.1674 as bulls restore dominance.
Bears got hit hard on the leveraged markets, while Stellar Lumen’s (XLM) trading volumes on Futures grew by 137.17% overnight, towering to $284.64 million, according to CoinGlass.
On Spot markets, the magnitude of action is identical: Stellar Lumens collected $287.87 million in 24 hours, pushing the turnover rate to 4.59%, according to SoSoValue’s real-time stats.
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