With XLM currently hovering around the $0.13 price zone, there are speculations on the next movement. Interestingly, a crypto analyst with the name EGRAG CRYPTO on X (formerly Twitter) predicts that XLM could rise to $1 if certain conditions are met.
To explain, the MA indicator reflects the average price data over a specific period of time, e.g., 200 days. It is constantly updated and can be used to identify trade areas and recognize market trends.
On the other hand, The EMA performs a similar function but with a focus on more recent price points. Due to its method of calculation, the EMA reacts to price changes faster than the MA.
Based on EGRAG CRYPTO’s prediction, if there is an upward crossover of the 21 EMA and 200 MA on XLM’s weekly chart, there is a possibility the token could experience a 500% price surge in the coming months, surpassing the dollar mark to trade at $1.10.
However, it is worth stating that all predictions are speculations without guarantees and should not be relied on as investment advice.
Something cool is dropping in 10 days.
This announcement was well received, with the XLM token rising by 10% in the next 24 hours. Interestingly, some enthusiasts predict Stellar could announce a new partnership in the coming week.
For now, it remains unknown what this new development could be. However, there is the possibility it could elicit some effect on XLM’s price trajectory.
At the time of writing, XLM is trading at $0.132, having gone up by $0.132 in the last day. In tandem, the token’s daily trading volume has gained by 21.33% and is valued at $119.14 million.
