An analyst from the Crypto MindSet YouTube channel has made a bold prediction regarding the price of Stellar (XLM), suggesting it could reach $10. This article reviews his arguments and market analysis.
Current Consolidation Phase of XLM
The analyst claims that the current XLM price is completing a long-term consolidation phase that began in January 2018. For over seven years, the price has fluctuated within a single range, but it is now nearing a potential breakout.
Growth Potential to $10
The analysis suggests that XLM may enter what he calls the 'banana zone' when it surpasses the $0.63 mark. If this breakout occurs, the analyst forecasts that the price could reach levels of $2, $5, or even $10, based on previous price patterns and technical analysis.
Buying Strategy and Market Observations
The analyst shares his experience of buying XLM around the $0.40 level and plans to increase his position. He warns against trading low-cap assets that may distract from more stable investments.
The analyst from Crypto MindSet asserts that XLM is close to breaking out after a lengthy period of sideways movement. If this happens, a rise to $10 could become possible. The coming weeks may be crucial for potential investors in Stellar.
