Egrag Predicts Stellar (XLM) Price Movement, Targets $1.59, $2.25, $3.72

Mainstream chart analyst Egrag is predicting a significant price movement for Stellar (XLM) in the near future. According to TradingView's price statistics, XLM has recently breached the $0.213 level and bounced off the Red-Label Bollinger Band of $0.0209.

Egrag believes that if XLM successfully logs the $0.22 resistance level, it could lead to a double top retest. This would be similar to the price action seen in mid-May when XLM's price upswing topped at $0.258 twice before gradually declining.

The analyst is doubling their XLM stash and aims to match their XLM token count to that of XRP, citing the ability to sell XLM but struggling to sell XRP due to its limited supply.

Egrag has outlined three Fibonacci Circle targets for XLM: $1.59, $2.25, and $3.72, with a crucial juncture at $0.24 separating bull and bear dominance. Spot demand will also be a key indicator of the price movement.