Stellar (XLM) is preparing for a possible increase in price in February, reflecting the success of other altcoins and Bitcoin in January. Toncoin (TON) Value Forecast for March 26th
From a technical point of view, Stellar has formed several optimistic models, indicating further growth. An optimistic pennant model, a continuation signal, emerged from the consolidation phase in December and January. This model usually leads to an optimistic breakthrough when the lines of the triangle converge.
In addition, the Elliott Wave model suggests more upside potential. With five key stages, including optimistic waves and corrective pullbacks, Stellar is ready to enter its fifth optimistic wave in February.
In addition, a gold cross model has formed on the charts, with the 50-week and 200-week moving averages crossing. The price remained above these averages, indicating sustained optimistic momentum.
Several factors could lead to Stellar’s potential rally. Historically, February has been a strong month for cryptocurrencies, with Ethereum (ETH) and Bitcoin (BTC) often performing well. If this trend continues, other popular cryptocurrencies such as XRP and Stellar may benefit.
As a result, Stellar may recover and retest its all-time high of $0.7960 in February, representing a potential 90% increase from current levels. Currently trading at $0.4240, Stellar (XLM) is down 33% from its peak in November, when it experienced a strong rally.
**#ElliottWavesAndPennantsPointToStellarXLMPriceSurgeInFebruary**
Donald Trump is mulling over a “Made in the USA” crypto plan to entice the virtual currency sector. This might bolster Stellar, a digital currency fashioned in America in 2014.
Consider Stellar and XRP as relatives in the payment sphere. Should an XRP ETF receive clearance, it establishes a route for a Stellar ETF as well. In fact, Stellar’s creator, Jed McCaleb, was additionally a member of the Ripple (XRP) group. Thus, an XRP ETF endorsement may greatly elevate the prospects of a Stellar Lumens ETF further down the road. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
