Brandt Sees Bullish Future for XLM

Veteran trader Peter Brandt has made a notable prediction for Stellar (XLM). In a recent post, he suggested that XLM is a good pick for those looking to bet on a long shot over the next few years. According to Brandt, XLM's current price of $0.23041 is near its long-term support line, and he believes the asset's trajectory is bullish.

The chart structure provided by Brandt shows a declining upper trendline connecting each successive cycle high for XLM since 2018. The asset's price has returned to its rising trendline, which has held as support across the same multi-year period. Brandt previously identified constructive technical structure in XLM, describing it as an asset that 'could become a rock star.'

The chart also displays two moving averages, with the 18-period average at $0.23041 and the 8-period average at $0.18827. The ADX reads 33.91, indicating trend strength. Brandt has set a price target of $1.17605 for XLM, which would require a 410% rally from its current price.