The Stellar market (XLM) has registered prices on the last day, gaining 10.77% Data from Coinmarketcap. The prices are reflected after a rather bear week marked by significant losses in the general cryptographic market. Interestingly, because these digital assets show a slight recovery, the renowned market analyst Ali Martinez postulated that XLM can prepare for solemn stubbornness.
The stubborn XLM flag can drive prices to $ 1.20 – an analyst
IN X Post On March 1, Martinez shared the fascinating technical analysis of the XLM market. According to the market expert, there is a creation of a stubborn flag on a 3-day XLM/USDT trading table signaling the incoming price enhance.
In the context of the stubborn flag pattern, when the asset is experiencing a rapid enhance in the price representing the flagship, and then the consolidation period with the decreasing price movement representing the flag. On the XLM/USDT chart, a stubborn flag is created after the price rally in November 2024, which the current price correction phase.
However, while the stubborn flag can signal a potential rush ready to explode, Stellar must interrupt the flag limit outside the upper limit, currently amounting to 0.41 USD to confirm all price increases. Looking beyond this level, Altcoin will also have a significant resistance to up to $ 1.00, USD 1.21 and USD 1.41, respectively.
However, in the presence of sufficient purchasing pressure, XLM may enhance by at least 330% after confirming the stubborn intentions suggesting a minimum price of around USD 1.20. This expected star growth results from historical data, from which it is expected that the stubborn flag will bring market benefits similar to the length of its flag.
Interestingly, the relative force indicator (RSI) on the XLM/USDT daily chart also supports the stubborn potential of Altcoin. According to Data from TradingView, this RSI currently has 4.59 in the top of the upward direction, which signals more space for the benefits of XLM prices after the last recovery.
Discussion of the XLM price
At the time of writing, XLM trads at USD 0.3141 after a 10% price enhance in the last 24 hours, as previously stated. Meanwhile, there is a slight reduction in market commitment, as indicated by a 1.12% decrease in the daily volume of trading.
It is worth noting that XLM still remains in the red zone in its weekly and monthly time frames with losses, respectively 5.94% and 27.28%, which suggests greater control of the bear market recently. To materialize the stubborn flag, XLM traders must enhance current shopping pressure and cause a higher volume of rotation.
