🚀 Stellar XLM: The Crypto Comeback Kid? 🤔

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As the dreary days of January drew to a close, Stellar Lumens’ price, much like its crypto brethren, languished in a state of torpor, a mere shadow of its former self. The once-mighty Bitcoin, that great bellwether of the crypto world, had also lost its luster, and with it, the altcoins, including our dear Stellar (XLM), had followed suit.

But fear not, dear reader, for as I pen these words, Stellar (XLM) is trading at a mere $0.4240, a far cry from its lofty peak of November last year, when it had reached for the stars, only to come crashing back down to earth, its price plummeting a whopping 33%.

Technical wizardry suggests a February resurgence

And now, dear reader, the technical wizards have spoken, and their auguries are nothing short of bullish. It appears that Stellar has been busy forming a series of patterns, a veritable symphony of bullish signals, if you will. First, we have the consolidation phase of December and January, which, when viewed through the lens of technical analysis, reveals itself to be a bullish pennant pattern, a harbinger of great things to come. This pattern, a staple of the technical analyst’s toolkit, consists of a long vertical rally, followed by a symmetrical triangle, a veritable coiled spring, waiting to unleash its fury upon the world.

And if that were not enough, the Elliott Wave formation, that great and mysterious pattern, beloved of technical analysts everywhere, suggests that Stellar is poised on the cusp of its fifth, and final, bullish wave. This, dear reader, is the stuff of which crypto dreams are made.

But wait, there’s more! For Stellar has also formed a golden cross pattern on the chart, a veritable seal of approval from the technical gods, wherein the 50-week and 200-week moving averages have crossed, a sure sign that the bulls are in charge.

And so, dear reader, the stage is set for a February resurgence of epic proportions. Stellar, that plucky underdog, may yet rebound and retest its all-time high of $0.7960, a dizzying 90% increase from its current level. The very thought of it is enough to make one’s heart sing.

Potential catalysts for Stellar’s price

But what, dear reader, could be the catalyst for this impending price surge? Ah, here the plot thickens. For it appears that February is often a strong month for cryptocurrencies, a veritable crypto Christmas, if you will. And if the seasonal trends hold true, then Stellar, that most American of coins, may yet benefit from the impending crypto boom.

And then, of course, there’s the small matter of Donald Trump’s plans to create a “Made in USA” coin, a move that would surely benefit a coin like Stellar, that most patriotic of cryptocurrencies. One can almost hear the strains of “America the Beautiful” playing in the background as one contemplates the possibilities.

But wait, there’s more! For an XRP ETF approval would also be a boon to Stellar, that most cousinly of coins. And with Jed McCaleb, its founder, having been part of the Ripple (XRP) team, the odds of a Stellar Lumens ETF approval would surely rise, like a phoenix from the ashes.

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2025-01-31 17:13