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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.