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Stellar (XLM) shows bullish patterns with 600% rally potential. Recent analyses highlight a strong bullish outlook for Stellar (XLM), with technical indicators suggesting it could rally by over 600%. Analysts have set a breakout target of $0.681, with confirmed bullish patterns showing promising growth momentum. Strategic collaborations, particularly with Mastercard and financial giant Franklin Templeton, continue to elevate Stellar’s position in the competitive crypto sector, boosting its market credibility.
#XLM has been accumulating below its 1W MA50 since April but having entered today the month of November, we are expecting a huge bullish break-out to take place soon.
— TradingShot (@TradingShot) November 1, 2024
The reason is that historically on a 4-year frequency, this month starts the Cycle’s Parabolic Rally.
Based on… pic.twitter.com/qljW3NMrMb
Stellar has also strengthened its blockchain security by partnering with Blockaid, an upgrade expected to improve user trust and attract developers to its decentralized platform. Though XLM experienced a minor price decline recently, these partnerships and security advancements suggest a positive long-term outlook. However, broader market trends will still play a critical role in its future performance.
Key Stellar Levels To Watch – November 6
The XLM/USD pair has shown a breakout above the recent consolidation zone, confirming bullish momentum. Price is currently trading above the 9-day SMA, which supports upward movement.
The next target resistance level is around $0.1140, where the price may face some selling pressure. Stochastic is in the overbought region, indicating potential for a short-term pullback before further upside.
XLMUSD Key Levels
Resistance Levels: $0.1040, $0.1140, $0.1370
Support Levels: $0.0910, $0.0850, $0.0750
XLM Metrics
Total Market Capitalization: $2.48T
Stellar Market Capitalization: $2.98B
Stellar Volume: $102.22M
Market Rank: #30
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