A very interesting chart. What is interesting here is how obvious it is that the correction is over. Stellar produced a massive bullish breakout in November 2024, more than 700% growth. After a strong move, there is always a correction. After the correction ends, we get the resumption of the initial move, in this case a bullish wave.
The 0.786 Fib. retracement level worked as support. 7-April. There is an interesting dynamic around this level. Back in July 2023 as XLMUSDT was rising resistance was found around 0.2000. Very close to this level. We then had the late 2024 bullish wave and the correction that ended in early April this year. Support was found exactly at the 0.786 Fib retracement level and this level matches 0.2000. This is the purple line on the chart. Resistance turned support.
After this support zone was hit and confirmed Stellar moved to produce an initial breakout and on the 16-June week, 22-June, we get a higher low. This higher low signals the start of the next bullish wave with a target around 0.9100. This is the next target for the current move but not necessarily where the bull market cycle will end. Can be but not necessarily, the action can move higher.
Growth potential from current price to our target goes to 257%. Coming from the August 2024 low, this same target would give a total of 1,099%. Seeing how strong the first jump was, it is likely that Stellar will go higher in this 2025 bull market.
We have another target between $1.25 and $1.35.
Let's focus on the market and the bigger picture.
Stellar has already proven that it will be a top performer in this cycle. Back in late 2024 XLM outperformed many projects, we can expect the same pattern to repeat in this bullish continuation.
The fact that there are no new lows also signals strength. We saw many pairs hitting new all-time lows in April and June, this is not the case here. And this is also good.
This is a proven project so it is easy to go in big.
Last time the meat of the move unraveled in just two weeks. Something also to keep in mind. Something similar would allow us to profit from the entire XLM wave and then browse the market for new opportunities.
Remember, the market is set to grow for 6 months in the least or it can extend and grow for years. While some pairs go down, others will be going up. When some pairs stop going up, others being down will recover and grow. The market will cycle between this and that, here and there; in the end, everything grows; that's the definition of a bull market. A rising wave lifts all boats.
Notice the long-term consolidation phase, it lasted more than 900 days and then we had a very strong bullish breakout. The longer the consolidation phase, the stronger the move that follows. This is only the beginning, there will be more.
Thank you for reading and for your continued support.
Namaste.
The 0.786 Fib. retracement level worked as support. 7-April. There is an interesting dynamic around this level. Back in July 2023 as XLMUSDT was rising resistance was found around 0.2000. Very close to this level. We then had the late 2024 bullish wave and the correction that ended in early April this year. Support was found exactly at the 0.786 Fib retracement level and this level matches 0.2000. This is the purple line on the chart. Resistance turned support.
After this support zone was hit and confirmed Stellar moved to produce an initial breakout and on the 16-June week, 22-June, we get a higher low. This higher low signals the start of the next bullish wave with a target around 0.9100. This is the next target for the current move but not necessarily where the bull market cycle will end. Can be but not necessarily, the action can move higher.
Growth potential from current price to our target goes to 257%. Coming from the August 2024 low, this same target would give a total of 1,099%. Seeing how strong the first jump was, it is likely that Stellar will go higher in this 2025 bull market.
We have another target between $1.25 and $1.35.
Let's focus on the market and the bigger picture.
Stellar has already proven that it will be a top performer in this cycle. Back in late 2024 XLM outperformed many projects, we can expect the same pattern to repeat in this bullish continuation.
The fact that there are no new lows also signals strength. We saw many pairs hitting new all-time lows in April and June, this is not the case here. And this is also good.
This is a proven project so it is easy to go in big.
Last time the meat of the move unraveled in just two weeks. Something also to keep in mind. Something similar would allow us to profit from the entire XLM wave and then browse the market for new opportunities.
Remember, the market is set to grow for 6 months in the least or it can extend and grow for years. While some pairs go down, others will be going up. When some pairs stop going up, others being down will recover and grow. The market will cycle between this and that, here and there; in the end, everything grows; that's the definition of a bull market. A rising wave lifts all boats.
Notice the long-term consolidation phase, it lasted more than 900 days and then we had a very strong bullish breakout. The longer the consolidation phase, the stronger the move that follows. This is only the beginning, there will be more.
Thank you for reading and for your continued support.
Namaste.
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🚨 FREE PREMIUM Trades + Top Results
t.me/anandatrades/1183
🚨 FREE Quality Content + New Results
(Frequent Discounts & Offers)
t.me/masteranandatrades/6172
🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
t.me/anandatrades/1183
🚨 FREE Quality Content + New Results
(Frequent Discounts & Offers)
t.me/masteranandatrades/6172
🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.