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According to analyst EGRAG, Stellar (XLM) is about to have a big price spike. Investor Michael doubted the possibility of a $5 gain in a short time given that it was based on technical analysis and historic trends.
EGRAG uses the ethereum price drop over the past 30 days (price drop: -48.16%) as one of the main considerations. Additionally, the market behavior in the past seems to be portrayed in the present situation where past dips XLM experienced prior to the bullish period were followed by recovery signs. He notices only a mirrored wave in the chart which is forecasting a count around $0.5. However, should this target level be met, there are chances for a sustained growth to take place.
That is even more incredible for a medium to long term forecast of XLM, as it uses logarithmic injections and reaches $5, and linear extrapolation predicting $1.5 . The confidence from the complex instrument of technical analysis is, on the one hand, reinforced from the strong fundamental portfolio of Stellar.
Stellar’s partners with Moneygram among others and the most recent feature, namely Protocol 20 that hosts smart contracts as one of its capabilities, points to the wide area of its application in real life. These factors along with the others are technical technical analysis taken together make the outlook for XLM negative.
At the present moment, XLM is struggling with prices going up. The asset currently trades at $0.1108. For bear market capitalization, it reached $3.15 billion, traded amount increased by 10.33%.
Meanwhile, the future continues to elude us but EGRAG’s call is showing some light to the XLM prediction. Therefore whether or not it reaches the $5 ceiling, Stellar’s vision is clear and the partnerships of the project should give us room to live in hope for its future.
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