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Prominent analyst EGRAG believes $XLM could see a 3,006% surge to $3.50, citing the Fib Circle 1.414 as a key factor in its upward trajectory.
In the last 24 hours, the price of Stellar ($XLM) has seen a steep decline from $0.1227 to $0.116, marking an approximately 5.29% crash within the short timeframe. While $XLM has barely gained 2.73% in the past 30 days, a renowned crypto analyst has argued the digital asset is getting set for an astronomic bullish breakout.
In a recent post, EGRAG CRYPTO, a seasoned crypto analyst, shared insights regarding $XLM. In particular, he weighed in on the influential role of Fibonacci Circle 1.414 in shaping its trajectory.
According to the analyst, the Fib Circle 1.414 has a historical significance as a decisive factor in rejecting past market highs. He claimed the Fib circle is replicating that trend in the current market conditions for $XLM.
As a result, EGRAG conveyed a sense of optimism that Fib Circle 1.414 is presently acting as a robust support for $XLM. This observation has heightened the analyst’s confidence in $XLM’s trajectory. Specifically, he asserted that $XRP is heading towards what he described as a “point of no return.”
$XLM Projected to Surge by 3,006%
The analyst specified that $XLM’s initial target is within prices of $0.38 and $0.42. EGRAG identified these targets as the primary checkpoint in $XLM’s upward journey. With $XLM at $0.1164, a sustained surge to $0.38 or $0.42 would imply a percentage growth exceeding 220%.
Meanwhile, the crypto analyst urged the crypto community to prepare for an exhilarating $XLM ride as he foresees an even more daring bullish cycle. In particular, EGRAG argued that the ultimate destination for $XLM is the stars, pinpointing $3.5 as the symbolic milestone.
Notably, this $3.5 projection implies $XLM could be in for a 3,006% growth. Moreover, the analyst portrayed the value as a gleaming beacon of achievable success in $XLM’s upward trajectory. Per CoinMarketCap data, $XLM’s all-time high was six years ago at $0.9381.