Stellar’s native token, XLM, is poised for notable upward momentum, as the cryptocurrency expert predicted in a recent post on X (formerly Twitter). On December 13, 2024, experts boldly predicted that XLM could reach $2, representing a nearly 350% increase in value.
Experts predict that XLM will surge 350% to $2.
However, experts believe that the recent sharp price drop is only a temporary setback on XLM’s path to reaching $2.
Current price momentum
The past few days have not been favorable for XLM as it has not experienced any significant price changes. However, today the token has seen an impressive price surge of over 5% in the last 24 hours. With this, the price of XLM has now risen to the $0.437 level.
Despite the price increase, trading volume decreased by 13% during the same period, showing that the participation of traders and investors was lower than the previous day. The data also shows that the asset is still down 13% over the past seven days.
XLM Technical Analysis and Future Levels
In addition to these predictions and recent price performance, CoinPedia’s technical analysis shows that XLM is showing bullish price action on the daily time frame. According to the XLM daily chart, the asset is forming a bullish flag and fall price action pattern and currently appears to be consolidating near the breakout level.
Following the price action, if XLM breaks out of this pattern and closes the daily candle above the $0.47 level, it is likely to rise by 32% to initially reach the $0.63 level. Additionally, following this pattern, XLM could potentially surge 537% and reach the $3.04 level in the future.
On the positive side, XLM’s Relative Strength Index (RSI) remains below overbought territory, indicating that the asset has ample room to rise going forward.
$118 Million XLM Leaked From Exchanges
This optimistic technical analysis is further supported by on-chain indicators. According to on-chain analytics firm Coinglass, XLM spot inflow/outflow data shows significant XLM outflows from exchanges in recent days. Over the past 10 trading days, exchanges have seen $117.8 million worth of XLM leaked.
In the cryptocurrency environment, outflow refers to the movement of assets from exchanges to wallets, which indicates bullish sentiment towards the asset. This trend suggests further upside and an ideal buying opportunity.