Stellar (XLM) has maintained an upside trajectory within the last seven days.
Bitcoin’s latest jump past $100,000 triggered significant gains for altcoins, extending XLM’s weekly gains by over 40%.
Stellar gained around 3% on its daily chart and looks ready for further uptrends.
Meanwhile, the prevailing bullish performance sparks discussions about XLM prices hitting $2 in 2025.
Factors such as strategic collaborations, market trends, and real-world utility position XLM for impressive growth.
XLM price performance
The alt trades at $0.4549 after gaining 41% in the past week.
Chart by Coinmarketcap
XLM wavers at a vital resistance, which might influence its near-term trajectory.
Stability above the $0.456 hurdle could trigger surges to $0.548.
Bulls will likely push for the $0.575 target, a 26.39% jump from XLM’s current price.
Such trends could propel the alt to new peaks above $2 by early February.
However, seller activity around $0.456 would catalyze retracements.
Bears will target the reliable support zone at the $0.356 – $0.340 range.
Technical indicators highlight that XLM should flip $0.456 into support to retain the bullish momentum.
Broad-based rallies would support bullish moves past the nearest resistances into new highs.
Popular analyst JAVON MARKS believes XLM price can pull a 2017-like move to hit $6 – $9 territory in the upcoming sessions.
$XLM (Stellar) could still be gearing up here for yet a long-awaited breakout similar to 2017 and given prices replicate that performance, a break could lead into more than 11X (1,100% Gain) from here into the $6 to $9 levels!
A massive move could be on the horizon…
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What’s driving XLM’s momentum
Stellar’s prevailing momentum reflects broad market sentiments.
Cryptocurrencies recovered as optimism builds ahead of Donald Trump’s inauguration, which is expected to introduce the most pro-crypto congress in history.
Crypto enthusiasts expect regulatory clarity under Trump’s leadership.
The ex-SEC chair Gary Gensler hindered growth for assets like XRP with continued legal woes.
XLM often mimics XRP trends due to their similar roles and history within the cryptocurrency market.
The duo focuses on global remittances. Stellar founder Jed McCaleb was also among Ripple’s founding members.
Thus, the US regulatory changes will likely trigger significant performances for assets such as XLM.
Further, Stellar has continued to cement its position within the crypto space with different approaches.
For instance, the project with MoneyGram to improve fiat-crypto efficiency.
Cash to crypto on & off ramps, activated by @MoneyGram and built on Stellar 👇
stellar.org/moneygram
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Also, asset manager Franklin Templeton tapped the Stellar blockchain to reduce cost and enrich operational efficiency.
Moreover, the World Bank and the United Nations endorsed Stellar, solidifying the crypto project’s role in international remittances.
Strategic collaborations and endorsements by financial giants highlight Stellar’s dedication to revolutionizing the global payment sector while promoting adoption.
In conclusion, Stellar exhibits robust bullish momentum, supported by technical indicators, market trends, and strategic collaborations.
While cryptocurrencies remain unpredictable, XLM bulls appear ready to break key resistances towards $2 in the coming months.
The post Stellar price analysis: key levels to watch after XLM’s 40% gain appeared first on Invezz
