A recent video by popular YouTuber 'C-ZAR' on Stellar Lumens (XLM) has drawn the attention of investors. With the current price around $0.27, XLM shows signs of potential growth, which could be interesting for holders of the cryptocurrency.
Technical Structure and Bull Flag Breakout
XLM has recently broken out of a bull flag pattern, which is typically a strong continuation signal. This breakout follows a prolonged consolidation phase where the price moved sideways. The current consolidation forms a higher low structure, setting the stage for a more aggressive move ahead. The hourly chart shows hidden bearish divergence; however, the daily chart presents a different scenario with hidden bullish divergence, indicating trend continuation.
XLM Price Targets and Fibonacci Calculations
Using the measured move from the bull flag breakout, a conservative target is around $1.40. Considering Bitcoin's potential growth, XLM prices could reach between $2.00 and $2.46. Technical analysis indicates a similar bull flag on the XLM/BTC monthly chart, suggesting that as Bitcoin rises, XLM may also outperform, pushing its USD value higher.
Conclusion
With breakout signals evident on daily and weekly charts, the forthcoming six weeks appear critical for Stellar Lumens. If broader market conditions favor upward movement, targets between $2.00 and $2.50 seem achievable.
Predictions for Stellar Lumens remain optimistic based on technical analysis. Investors should monitor near-future market changes closely.
