Analysts are predicting a significant price increase for Stellar (XLM), with projections of a 2,160% surge above the $11.1 mark. The basis for this prediction is the cryptocurrency's past performance and technical indicators. However, despite these positive outlooks, daily losses for XLM indicate lingering skepticism among traders in the current market. The technical reason for the projected price increase is the asset's performance in previous bull cycles and Fibonacci extension levels. The Fibonacci chart suggests potential extension targets of $2.12, $8.39, and $11.32. While short-term performance is subdued, long-term optimism remains. XLM is trading within an upward channel on the four-hour chart, but a decisive breakout will determine the outcome of the coming weeks. There are formidable resistance zones overhead, but maintaining the breakout above the 38.2 Fib could add to the bullish foundations created.



Other News from Today