According to crypto analyst EGRAG CRYPTO, the native cryptocurrency of the Stellar blockchain, Stellar Lumens (XLM), could be gearing up for an extraordinary rally. The analyst predicts that XLM could see an increase of 2922%, reaching a level of $3.5. This potential rise could be a dramatic jump for XLM, which is currently trading at $0.1158.
EGRAG CRYPTO published his bullish market prediction based on the price movements over the past few months. He believes that the cryptocurrency will break out of its current trading range and enter a consistent upward trend. It is suggested that a former banker’s statement that XLM and XRP could revolutionize the payment and banking system, and the price movements predicted by EGRAG could be the first steps of this rise.
A Ripple official also shared his views recently. One of the main indicators followed by EGRAG CRYPTO is the Fib Circle 1.414. This is a tool used in technical analysis to determine potential support and resistance levels.
According to the analysis, the Fib 1.414 level has served as a consistent support level for XLM. The analyst indicates that this trend could continue and that XLM is currently trading near the next Fib Circle 1.414 support level.
The analyst points to the Fib 0.702 range as the first target of XLM’s upward journey in the analysis, stating that it could be an important point for the cryptocurrency to reach higher levels. However, the analyst’s ultimate price target suggests even greater hopes for XLM. With a solid foundation at the Fib 1.414 level, it is suggested that the crypto asset could initiate a significant rally and reach an incredible rise to the $3.5 level by hitting Fib 1.618.