Expert C-Zar from the Crypto C-Zar YouTube channel discussed the current situation regarding prices of Stellar (XLM) and potential growth scenarios.
Support and Immediate Levels
C-Zar pointed out that Stellar has managed to hold above a key support zone near $0.39. Closing above that level is critical because it suggests the recent low is confirmed. He noted that while a dip to $0.385 would not invalidate the move, the strength lies in how the market closes. In his words, 'the higher we close today, the more affirming it is that this is in fact the low for Stellar.'
Technical Signals and Trend Formation
The discussion quickly turned toward momentum indicators. C-Zar highlighted the relative strength index (RSI), which has shown repeated resilience without ever dipping into oversold territory. He described the pattern as an 'Adam and Eve double bottom,' a formation that historically points to bullish continuation. At the same time, the daily chart is forming what he compared to a 'high heel' structure, indicating a bullish configuration. If Stellar moves above the focal point near $0.4713, he believes the rally could accelerate rapidly.
Long-Term Perspectives and Possible Targets
C-Zar argued that a break above $0.47 could set the stage for fast growth. His analysis on the bull flag pattern points to $0.80, which would be more than double the current price zone. Broader target ranges using Fibonacci extensions land between $0.87 and $1.30, with potential extensions up to $2.20. He compared the current setup to previous Stellar price consolidations, noting that past rounded lows have led to sudden surges.
Hence, the analysis reveals that Stellar prices are at an important stage. The expert emphasizes that given the positive technical signals, further movement could be significant.
