Analyst sees XLM reaching $2.50, which would represent a potential 15x move from current levels. XLM holds above its 50-day and 200-day averages, with $0.180 support and $0.200 resistance in
Stellar analyst Celal Kucuker says XLM price could reach $2.50, while the token has begun recovering after a sharp pullback. His view follows XLM’s move from $0.154 on Aug. 19 to $0.220 on Aug. 22, before the price fell toward $0.180 on Aug. 26.
https://twitter.com/CelalKucuker/status/2092224287453159661?s=20The latest 1-hour reading places XLM at $0.1869, down 0.11% on the current candle. The candle opened at $0.1871 and traded between $0.1867 and $0.1871. However, $0.1900 now is the first resistance level.
A move above it would bring $0.2000 into focus, followed by $0.2100 and $0.2200. On the other hand, $0.1800 remains the main short-term support. A break below that level could expose the $0.1700 area.
The short-term indicators have also strengthened as XLM attempts to recover. The RSI is at 61.57, above its moving average reading of 49.88. Notably, the RSI remains below the 70 overbought threshold.
Meanwhile, the MACD histogram reads 0.0008, while the MACD line sits at 0.0002. The signal line remains lower at -0.0005, leaving the indicator with a developing bullish crossover. Trading volume currently stands at 24.54K.
That recovery follows a broader move that began months earlier, when XLM traded between $0.15 and $0.18.
The longer-term chart shows a major rally in late May, when XLM jumped from about $0.15 to nearly $0.295. The move was followed by a decline that continued into August. From June through mid-August, XLM formed lower highs and lower lows.
The price eventually reached the $0.15-$0.16 region before rebounding sharply in late August. The recovery pushed XLM toward $0.205 before the latest pullback. At $0.187, the token remains above the 50-day and 200-day moving averages.
The 50-day average has turned upward, while the 200-day average sits near $0.171. Resistance remains around $0.199-$0.200, then $0.219 and $0.239. According to Kucuker, Stellar has the “cleanest chart in the market.” He also said a 15x move would not surprise him, placing $2.50 within his stated target.
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