Peter Brandt Sees Potential Bullish Triangle Pattern Suggesting Possible Breakout for Stellar (XLM)
Main Idea
Peter Brandt identifies a bullish triangle pattern in Stellar (XLM), signaling a potential breakout with a target price of $1.51, highlighting renewed strength in XLM’s market position.
Key Points
1. XLM recently outperformed XRP and ranks 16th by market cap, ahead of LINK and HBAR.
2. The bullish symmetrical triangle pattern suggests XLM is nearing a breakout point with a potential upside target of $1.51.
3. Stellar has outpaced XRP during the July rally, strengthening its market position.
4. Peter Brandt remains skeptical about the broader crypto market, estimating that 95% of tokens will eventually become worthless.
5. Despite general crypto skepticism, Brandt sees strong technical potential in XLM due to its chart pattern and recent performance.
Description
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