Stellar (XLM) Price Analysis For January 11

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Since November 2024, Stellar (XLM) has been experiencing a period of consolidation marked by lower highs, indicating potential profit-taking. Yet, from December 9 to January 11, the price movements have formed an inverse head-and-shoulders setup on the chart. This pattern generally predicts a possible upcoming rally for XLM.

Stellar (XLM)’s Bullish Pattern Signals Price Could Shoot 30%

Looking at the four-hour timeframe, Stellar has formed three noticeable troughs over the past two months, creating an inverted head-and-shoulders configuration. This technical formation typically suggests a shift from a downtrend and predicts a potential increase of approximately 31%, taking the price to around $0.612. To calculate this target, we first determine the depth of the head as 31%, then add that percentage to the neckline at $0.466.

In summary, the prospects for XLM appear optimistic due to its successful surpassing of the $0.414 resistance barrier, which has now transformed into a supportive foundation. This positive evolution suggests an imminent surge in price, hinting at a potential breakout increase.

Currently, XLM needs to increase by approximately 10% to challenge the neckline again. If it manages to surpass this level, it will suggest a successful breakout from the inverted head-and-shoulders pattern, potentially leading to a 31% rise towards $0.612.

As a researcher observing the cryptocurrency market, I find myself optimistic about the prospect of altcoins experiencing a surge in value over the coming weeks. My analysis suggests that Bitcoin may have formed a base around $90,000 to $91,000, indicating a potential market bottom. This could serve as a catalyst for an uptick among other cryptocurrencies.

Is Bitcon Bottom In? Most likely.

On the 9th of January, the price might have found its lowest point at $91,151. If this isn’t the bottom, then a retest around $90,835 with a failed bullish swing pattern could indicate that a new low (i.e., the bottom) is about to occur.

— MAXPAIN (@Mangyek0) January 10, 2025

Consequently, it’s crucial for investors to zero in on robust tokens within the crypto market. Notably, Stellar and Ripple are two examples of these strong performers that might cause price swings. Let’s delve into how a potential surge in Ripple could benefit Stellar’s XLM.

XLM Follows Ripple (XRP)’s Footsteps

Given that Stellar (XLM) and Ripple (XRP) are rival cryptocurrencies, their price movements tend to be quite aligned. So, if Ripple experiences an upward trend, it’s reasonable to expect Stellar to mirror that movement. As Ripple is approaching a potential breakout from a symmetrical triangle, there’s a strong possibility that Stellar might follow in its path.

According to the latest articles on CoinGape, it’s anticipated that the price of XRP might reach around $4 following a breakout from its current period of consolidation.

  • From a conservative standpoint, XLM can gain at least 30% if Ripple can shoot up 100%.
  • However, if Stellar has momentum, then it could also double form the current level and hit roughly $0.80.
  • In a highly bullish case, XLM price could reach $1.

Summing up, Stellar Lumens (XLM) appears optimistic for growth, aiming towards $0.612 following a 30% surge. There’s even a possibility that the coin could exceed these projected figures, possibly reaching the significant $1 milestone.

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2025-01-11 15:34