Legendary Trader Peter Brandt Thinks XLM Could Become a Rock Star

Key Points

1. Peter Brandt believes over 95% of the 11,000 actively traded cryptocurrencies may become worthless, but he singles out Stellar (XLM) as a potential exception.

2. XLM has formed a broad ascending triangle over multiple years, with resistance holding since early 2018 and gradually higher lows.

3. The ADX indicator for XLM is at 45.17, signaling strengthening trend conditions and a potential peak.

4. XLM is currently trading around $0.42900, just below a major long-term resistance level, with a breakout potentially targeting its all-time high of $0.9381.

5. Brandt's focus on XLM is notable given his general skepticism towards altcoins, suggesting it could perform remarkably in a weak altcoin cycle.