Peter Brandt Names 'Stellar (XLM)' as Next-Gen Dark Horse..."An Asset to Watch"

▲ Stellar (XLM)/ChatGPT generated image

Stellar (XLM) has shown long-term rebound signals on its chart, making it a strong candidate to demonstrate high potential over the next few years.

According to crypto media outlet BeInCrypto on September 29 (local time), veteran trader Peter Brandt analyzed on social media X (formerly Twitter) that XLM could be an excellent choice for a long-term betting asset looking ahead a few years. Brandt emphasized, “One should focus on the chart signals themselves, not short-term overheating or exaggerated rumors,” presenting the long-term monthly chart dating back to 2017 as evidence.

According to the chart released by Brandt, XLM has firmly maintained its multi-year upward trend support line. Notably, on the right side of the chart, the $1.176 level, interpreted as a long-term target zone, is marked with a green horizontal line. This figure indicates a potential rise of over 400% from the current price, suggesting that a strong long-term rally could unfold after several years of accumulation.

Positive signals are also emerging regarding its fundamental strength. On September 22, BVNK, a payment infrastructure company under Mastercard, announced the integration of the XLM network into its global payment platform. This, coupled with the tokenization of real-world assets (RWA) and the expansion of government bond trading infrastructure, is accelerating institutional adoption, including breaking new records for transactions per second.

Market analysts diagnose that volatility may continue until XLM completely breaks through the upper resistance line of its long-term downtrend. However, with the long-term bottom pattern combined with proven payment infrastructure nearing completion, it is advised to pay close attention to technical indicators and on-chain adoption trends.

[Key Article Summary]

-Peter Brandt named Stellar as a strong asset to watch for the next few years, based on long-term chart signals.

-Monthly chart analysis shows the maintenance of an upward support line, with the $1.176 level presented as a long-term target.

-The integration of payment networks and the increasing demand for real-world asset tokenization are bolstering long-term fundamentals driven by institutional adoption.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*