Explosive Move Coming for Altcoin XLM, Analyst Explains XLM Bull Cycle Expansions
Explosive move coming for altcoin XLM.
Analyst explains XLM bull cycle expansions.
The price of XLM could surge to $1 bull target.
The crypto community is tensing up over the falling prices of BTC and ETH. Despite the steady, continuous dips in the prices of the pioneer crypto and altcoin assets, the price of a few promising altcoin assets has been steadily rising, such as NEAR, XLM, and FET. According to one crypto trader and expert, the community should anticipate an explosive move for altcoin XLM.
Explosive Move Coming for Altcoin XLM
According to CoinMarketCap analytics, over the past week, the price of the popular altcoin asset, Stellar Lumen’s XLM, experienced a price pump of over 55%. However, over the past 24 hours, the price of XLM has been down by over 12% and is currently trading at the $0.23 price range. Some altcoin enthusiasts believe that the XLM price will rise once again and result in explosive gains.
https://twitter.com/0xSpermix/status/2061544307342098847
As we can see from the post above, this traders goes on to explain why XLM holders should expect an explosive surge in the price of the popular altcoin asset. To highlight, the biggest reason for a massive XLM price surge has to do with XLM not moving like most other altcoins. In fact, the post goes on to shed light on how the price of XLM moves differently compared to other altcoin assets.
To elaborate, the expert states that XLM moves in cycles, and what’s interesting is that the last two major expansions happened after roughly the same waiting period, which is 500 days. Specifically, after 500 days of the previous breakout, XLM experiences an explosive breakout, and this continues again after the next 500 days. According to the timeline, XLM is preparing for a major explosive upwards move.
Analyst Explains XLM Bull Cycle Expansions
Presently, it looks like the market has spent almost the exact same amount of time compressing again. So, its not about the days or weeks, but rather the years making up these 500 days. This is what makes the chart interesting. The bullish movement on XLM started over the past few weeks, bringing the price of XLM back to 0.2 and slightly higher prices.
The post concludes by stating that the truly bullish upward momentum will begin once the first accumulation produces a move toward the $0.60 XLM price range, leading to the second accumulation stage, which will produce another major expansion. Now, he finishes, that XLM is sitting at the end of a third accumulation period with a similar duration profile. If the rhythm stays intact, the next move could be less about finding support and more about discovering how high price is willing to reprice, which could push XLM to a $1 price target or above.
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