- EGRAG CRYPTO predicted that XLM could attain $1 within the coming weeks.
- In his put up, the analyst revealed that the 21 EMA was closing in on the 200 MA on XLM’s weekly chart.
- In the meantime, a symmetrical triangle chart sample on XLM’s every day chart recommended that its worth could get away quickly.
EGRAG CRYPTO, a cryptocurrency dealer and analyst, predicted in a tweet earlier at the moment that Stellar (XLM) could attain $1 within the medium time period. The analyst primarily based his bullish prediction off of the truth that a big medium-term technical flag was on the cusp of being triggered.
Within the put up, EGRAG CRYPTO revealed that the 21 EMA line on XLM’s weekly chart was closing in on the 200-week MA line. Ought to these two technical indicators cross within the coming few weeks, it might be adopted by a 500% enhance within the cryptocurrency’s worth, in accordance with the analyst.
Subsequently, EGRAG CRYPTO believes that XLM’s worth may rise to $1 within the months after the bullish cross. He additionally added that the altcoin’s worth could have the momentum wanted to rise to $1.10 as nicely.
In the meantime, CoinMarketCap indicated that XLM’s worth had risen 1.22% all through the previous 24 hours of buying and selling. Subsequently, the cryptocurrency was buying and selling palms at $0.1245 at press time. XLM had established a every day low of $0.1181 and was buying and selling at its 24-hour excessive. This recommended that the altcoin’s worth could retrace within the subsequent 24 hours if merchants start to make a revenue.
From a shorter-term perspective, a symmetrical triangle sample had fashioned on XLM’s every day chart. This chart sample recommended {that a} worth breakout could also be within the playing cards for the altcoin. If this potential transfer is in direction of the upside, then XLM’s worth may soar to as excessive as $0.1470 within the coming 2-3 weeks.
Conversely, a adverse breakout could result in XLM falling to the essential assist degree at $0.0950. The bullish breakout could also be extra prone to happen given the truth that the 9-day EMA just lately crossed above the 20-day EMA line on XLM’s chart. This signaled that short-term momentum had shifted in favor of bulls over the previous 48 hours.
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