An analysis shared by Egrag Crypto on X offers insights into the potential price movement of Stellar (XLM) during the ongoing bull market. Drawing from historical patterns, the analyst has projected a possible peak in XLM’s price by March 2025, with a target around $2.5 and $3.
Egrag Crypto’s analysis highlights two bull runs for XLM, occurring in 2017 and 2021, where the token surged by approximately 3,800% each time. These past surges began at support zones within a rising channel, propelling the price to the upper boundary of the channel.
The analyst uses these historical patterns to anticipate similar behavior in the next market cycle. The tweet mentions that XLM is consolidating near the lower edge of the rising channel, suggesting the potential for another upward movement.
By examining the positions and movements from previous cycles, the analyst believes the next peak could happen around March 2025, reaching key Fibonacci levels of 1.414 ($2.5) and 1.618 ($3).
What you'll learn 👉
Current Position and Support Levels
The analysis shows that Stellar is presently trading close to its lower support zone, marked by the 0.236 Fibonacci retracement level around $0.1. This level has been a key support during recent consolidations, preventing deeper declines.
The lower boundary of the rising channel continues to act as a critical support, where XLM historically initiates new bullish phases. For the predicted price rally to occur, maintaining support at current levels will be essential.
Any potential breakout will require increased trading volume to confirm upward momentum, allowing XLM to breach resistance zones and move higher within the channel.
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Projected Resistance and Price Targets
Egrag Crypto has projected that XLM could rally towards the Fibonacci levels of 1.414 and 1.618, corresponding to $2.5 and $3, respectively, by March 2025. These levels also align with the upper boundary of the rising channel, where previous rallies faced rejections.
The chart suggests that any approach to this region could lead to structural resistance, posing challenges for further upward movement.
Hence, the analyst remains optimistic about a bullish trend. Moreover, he notes that XLM’s current positioning and past behavior could trigger a rally similar to previous market cycles. However, achieving the projected targets will depend on market conditions and overall trading momentum.
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