The cryptocurrency market experiences a historic moment as Bitcoin (BTC) reaches a new record high. Against this backdrop, Stellar (XLM) shows significant growth, attracting analyst interest.
Bitcoin Sets New Record
Cryptocurrency Bitcoin has reached a new all-time high of $118,000. This event has sparked optimism throughout the cryptocurrency market, especially among altcoins and memecoins.
Stellar (XLM) Analysis and Harmonic Pattern
Stellar (XLM) is showing solid strength with a 27% daily gain and a 69% weekly gain. The daily chart shows a Bearish Bat harmonic pattern, which forecasts strong upward movement until completion, with the current CD leg considered bullish as the price approaches point D.
Outlook for XLM and Warning About Corrections
If bullish momentum continues, XLM could rally toward the $0.4787 resistance, translating to approximately 18% upside from current price levels. A further push could see the token reach $0.5145. However, harmonic patterns also suggest caution when the PRZ is reached, indicating possible corrections or consolidation.
The cryptocurrency market presents positive news, but investors should remain vigilant and consider potential correction movements.
