Brandt Sees Stellar Lumens as Long-Term Investment Opportunity with $1.17 Target

Veteran crypto and commodity trader Peter Brandt has identified Stellar Lumens (XLM) as a potential long-term investment opportunity. In a recent analysis, Brandt shared a monthly XLM price chart that depicts a multi-year descending trend-line, with the asset currently trading below its 2018 highs.

The analyst's prediction takes XLM to $1.17, potentially doubling its current all-time high. This target is based on an Inverse Head-n-Shoulders pattern and a measured-move price objective of $1.17605.

Brandt's analysis also notes that several key moving averages and the Average Directional Index (ADX) are hinting at a major reversal for XLM. The asset has already shown signs of life, soaring by 11.07% on Tuesday to restore the $0.24 resistance level.

This rally may be attributed to recent technical upgrades, including Protocol 28, which improved consensus efficiency and propagation. The Stellar Consensus Protocol (SCP) now allows validators to vote on chain amendments before the full transaction set arrives, helping to reduce congestion.