Crypto legend Peter Brandt isn’t easily impressed. He’s seen thousands of coins come and go. But in a recent post, Brandt shared a rare bullish take – and it’s on Stellar (XLM).
Let’s dive into the chart analysis, his opinion, and what it could mean for XLM holders.
What you'll learn 👉
🔍 Chart Analysis: Is XLM Forming a Massive Reversal Pattern?
In the monthly chart shared by Brandt, a potential multi-year inverse head and shoulders pattern is clearly visible. This is a classic bottoming formation and usually signals a major long-term trend reversal.
- Left Shoulder (S): Formed in late 2018 to 2019
- Head (H): The deep bottom in early 2020
- Right Shoulder (S): Slowly formed from mid-2022 to late 2023
- Neckline resistance: Just under the $0.50 mark
The recent candle shows a strong breakout attempt, with XLM currently trading at $0.429. This is the highest monthly level since early 2022 and could confirm the reversal if the move holds.
The chart also shows rising support and climbing moving averages – both signs that momentum is building. If this breakout sticks, the technical target from the H&S formation could be as high as $1.50, a more than 3x move from current levels.
🧠 Peter Brandt’s Tweet: A Harsh Take With a Silver Lining
In typical Peter Brandt fashion, the veteran trader didn’t hold back. He wrote:
“Every crypto_nerd has his/her/its own pet rock or Beanie Baby. I believe 95%+ of the 11,000 actively traded coins will become near worthless – your pet rock included.”
He’s not wrong. According to CoinGecko, over 3.7 million tokens are already dead, and more than half of active ones are down over 90% from their all-time highs. The majority of altcoins are, indeed, on life support.
But here’s the twist – he believes XLM is one of the few that could thrive:
“One coin I think could become a rock star is $XLM.”
Brandt rarely gives out public endorsements, especially not in such strong terms. Coming from someone who’s known for brutal honesty and years of chart mastery, this is important.
Read also: Ripple (XRP) vs Stellar (XLM): Which Token Is Better to Hold?
💬 What Does It All Mean?
XLM’s fundamentals have always made it stand out – cross-border payments, Stellar Development Foundation partnerships, and real utility. But this latest technical breakout, combined with Brandt’s stamp of approval, could be a turning point.
Still, XLM will need to hold this monthly close above $0.42–$0.45 to confirm the bullish reversal. If it fails and drops below $0.30 again, this setup could be delayed or invalidated.
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