The price of Stellar Lumens (XLM) is showing signs of a possible breakout, with analysts expecting it to rise from its current level to as high as $9. This optimistic forecast follows a strong performance in the Stellar price, as the coin has become one of the best-performing altcoins among the top 100 in the last 24 hours.
In the past day, the price of Stellar Lumens (XLM) increased by about 4.29%, moving from a low of $0.41 to a high of $0.47. It is currently changing hands for $0.445.
The positive momentum in this $13.43 billion cryptocurrency is also reflected in its trading volume, which surged by 99.37% in the last 24 hours. According to CoinMarketCap data, the total trading volume is now slightly over $1.40 billion.
Is Stellar price poised for a new all-time high?
There are speculations about the potential movement of the Stellar price to a new all-time high in the near term, probably at the beginning of 2025. Recall that the last all-time high of XLM was recorded on January 04, 2018, about seven years ago, when it peaked at $0.9381.
Crypto analyst Javon Marks has a positive outlook on Stellar’s price. He believes XLM may be preparing for a breakout similar to the one in 2017 when the price rose from about $0.02 in late 2017 to over $0.93 in early 2018, marking a 4550% increase.
The expert suggests that the XLM price could increase similarly, although the rise might not be as large. He predicts it could climb to between $6 and $9, representing an 11X (1,100% gain) from its current price.
Meanwhile, Javon is not the only one optimistic about the Stellar coin price. Another analyst, World of Charts, also gives a more moderate Stellar price prediction and expects a significant increase in the price after a period of stability.
Recently, this analyst tweeted that XLM will likely break out of its current price range. If it surpasses key resistance levels, they expect a 40% increase.
This positive outlook is consistent with common market trends, where successful breakouts attract more investor interest and trading activity.
Read more: Stellar Price Enters Bears Market: Time to Sell XLM Tokens?
