Rally

VeChain

Stellar

<p>Javon Marks, a top crypto analyst with more than 40,000 followers on X, discusses the potential for Stellar (XLM) to experience a major rally, potentially reaching levels above $9, which would represent a more than 16x increase from its current price.</p>
<p>He noted that a breakout from the channel in the chart could mirror historical patterns, suggesting <a href="http://Is Stellar (XLM) Price About to Skyrocket? Analyst Predicts a Massive Bull Run!" target="_blank" rel="noopener noreferrer nofollow">significant bullish momentum for XLM</a>.</p>
<p><a href="https://x.com/JavonTM1/status/1860687646160228365?t=3wehl25w34CN5V0_lxKEUg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Marks’ chart</a> reveals a channel structure that has evolved in two distinct phases: one in the past and one currently. In the previous cycle, a breakout from this channel led to a parabolic rise. This historical precedent indicates that a similar outcome may occur if the current breakout is confirmed.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="729" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-873-1024x729.png" alt="" class="wp-image-587524" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-873-1024x729.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-873-300x214.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-873-767x546.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-873-1536x1094.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-873-2048x1459.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-873-211x150.png 211w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-873-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-873-491x350.png 491w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-873-788x561.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-873.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The chart shows that<a href="https://coinmarketcap.com/currencies/stellar/" target="_blank" rel="noopener noreferrer nofollow"> XLM price</a> has surpassed the upper boundary of a long-term channel that has historically served as a consolidation zone. This breakout could signal the beginning of a new bullish phase, aiming for much higher price targets.</p>
<p>The analyst projects a potential target of over $9, corresponding to a 16X increase from current levels. This projection is rooted in historical breakout performance and a calculated move based on the channel’s height.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/vechain-vet-price-set-for-30-price-surge-following-key-breakout-heres-the-outlook/" target="_blank" rel="noopener noreferrer nofollow">VeChain (VET) Price Set for 30% Price Surge Following Key Breakout: Here’s the Outlook</a></em></strong></p>
<p>However, Marks’ chart highlights that before reaching this ambitious target, XLM may encounter resistance at previous all-time highs and psychological price levels, such as $1, $2, and $5.</p>
<p>The bullish outlook will also be contingent on a favorable macro environment for cryptocurrencies, as substantial upward trends typically require broad market support.</p>
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<p>The post <a href="https://captainaltcoin.com/break-out-from-this-key-level-could-kickstart-16x-rally-for-stellar-xlm-price-top-analyst/" rel="noopener noreferrer nofollow">Break Out from This Key Level Could Kickstart 16x Rally for Stellar (XLM) Price: Top Analyst</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Break Out from This Key Level Could Kickstart 16x Rally for Stellar (XLM) Price: Top Analyst

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