The cryptocurrency market has seen some significant price movements since the start of the year. In particular, the value of Stellar (XLM) has grown substantially after breaking through a 616-day long decline. On the weekly chart, the Relative Strength Index (RSI) has managed to surpass 50, indicating a bullish trend and hinting at a further significant increase.

The technical analysis of the daily charts confirms this bullish outlook. After breaking out of the descending resistance line, the price of XLM hammered out an ATH at $0.114 on the 1st of April. This followed a 900% price increase after the RSI moved past 50 in November last year. Wave theory projects the upward momentum continuing towards an average price of $0.121, before eventually topping out at around $0.150.

On the flip side, any drop below the one-wave high price point at $0.099 would invalidate this Stellar price forecast and could likely lead to a decline in prices to $0.070. It is important to note that while the current trend looks promising, the market is incredibly susceptible to external influences and a strong corrective action could be around the corner. Therefore, investors should ensure that their investments remain within their risk tolerance levels.



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