A crypto trader has predicted that XLM might get a 500% surge and then follow the bullish path to $1.1, based on technical indicators from the token’s price history.
In a recent post on X, crypto trader and analyst, EGRAG CRYPTO (@egragcrypto) made a bold prediction. Based on an analysis of XLM’s historical trends, he predicted that it could reach $1.1 in the long run, representing about a 1,100% surge from current prices.
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This prediction is backed by his analysis of the 21 EMA (Exponential Moving Average) and the 200 MA (Moving Average) on a weekly time frame. The first Bullish Cross (which occurs when one moving average crosses over another) saw a surge of over 500% in 2021.
#XLM Heading for $1:
When the Bullish Cross occurs on the weekly time frame with the 21 EMA (Exponential Moving Average) and the 200 MA (Moving Average), I'm anticipating a potential surge of approximately 500% 📈.
The chart below is showing promising signs that the next… pic.twitter.com/33TrI2znLb
— EGRAG CRYPTO (@egragcrypto) September 8, 2023
The chart shows that a similar Bullish Cross is coming again and it might happen in 2024. When the 21 EMA and 200 MA intersect in the coming weeks/months, it could bring another remarkable 500% surge.
XLM is currently trading at around $0.1, a 500% surge will push XLM up to $0.5. However, according to his analysis, he expects it to go beyond this and eventually hit $1.1, indicating a 1,100%.
The chartist closes out his post saying, “#XLM will make haters to squeak.” Clearly, he has a lot of faith in XLM, and lots of his followers share his view.
Read Also: Stellar Surges 24%, Outperforms XRP, and All Top 20 Altcoins. Why is XLM Price Rising? Details
Reaction of the Community Members
EGRAG CRYPTO’s analysis has received a lot of positive responses from members of the community. A lot of users are patiently waiting for another major bull run for XLM and if this prediction comes to pass, it could be just what the community has been anticipating.
However, some are skeptical, with one user saying none of EGRAG CRYPTO’s bullish predictions have come true so far. In his reply, EGRAG CRYPTO pointed out that the market moves in waves and that setups take time. According to him, people can’t just impose their financials on the market.
EGRAG CRYPTO’s technical analysis and market observations provide a bullish outlook for XLM, with the potential for substantial price gains in the medium term. However, traders should remain vigilant as the market dynamics can change rapidly. It will be interesting to see if this prediction comes true when the Bullish Cross occurs.
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