Ali Martinez, an analyst closely followed in the cryptocurrency markets for his technical analysis, shared a new assessment highlighting critical levels for Stellar ($XLM).
According to Martinez, the $XLM The price has been moving in a separate channel since February. During this period, each upward attempt was rejected at the $0.179 level, followed by a pullback towards the $0.147 support zone. The analyst says this trend constitutes recurring price behavior for months.
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Martinez noted that recent developments show $XLM is once again approaching the $0.179 resistance level, indicating that this area has historically acted as a strong “sell” zone. However, he added that this level is about to be tested for the fourth time and pointed out that in technical analysis, frequently tested resistance levels tend to weaken over time.
According to Martinez, the critical scenario for investors would be a daily close above this level. The analyst said a clear break above $0.179 could indicate that the selling pressure built up in this region has been exhausted.
Martinez said this situation could trigger a strong upward movement in the market. $XLM price, predicting that the first target after a possible breakout could be around $0.22, representing an upside of around 20%.
*This does not constitute investment advice.
