Technical analysis suggests Stellar (XLM) is approaching a potential breakout from a symmetrical triangle pattern, with a projected price target of $1.51 upon successful confirmation. XLM currently holds the 16th position in market capitalization and notably outperformed its cousin Ripple (XRP) during recent market activity.
This potential bullish move contrasts sharply with a stark warning from veteran trader Peter Brandt. Brandt asserts historical trends indicate 95% of cryptocurrencies could ultimately become worthless, drawing parallels to the high failure rates seen in past asset classes.
For the XLM breakout to be validated, analysts emphasize the need for significantly increased trading volume coupled with a daily closing price that decisively breaches the upper boundary of the triangle pattern. Though XLM has dipped 4% over the last week and is trading 16% below its July high, overall momentum remains relatively firm.
These opposing narratives – the specific technical opportunity for Stellar versus Brandt’s broad market pessimism – highlight the significant volatility and uncertainty inherent in the current cryptocurrency landscape.