- Stellar’s XLM has been consolidating inside a seven-year symmetrical triangle.
- Top analyst Aksel Kibar predicts a breakout target of $1.52, a 446% surge from current levels.
- Kibar also noted XRP’s earlier breakout, suggesting the token could climb to $6.18 if it surpasses the $3.34 resistance again.
Stellar’s native token XLM continues to trade within one of the longest consolidation structures in the market, according to Chartered Market Technician and former fund manager Aksel Kibar.
The analyst highlighted that XLM has remained trapped in a symmetrical triangle since 2018. Specifically, the price has repeatedly compressed between lower highs and higher lows for more than seven years.
Kibar noted that the market has struggled to escape this contracting range, as every major rally since 2018 has been capped by a descending resistance trendline currently sitting near the $0.62 area.
At the same time, long-term buyers have consistently defended higher lows, forming a rising support trendline now near the $0.10 level.
XLM Breakout Insight: $1.52 Possible
Recent trading activity shows XLM hovering between $0.20 and $0.35, sitting near the midpoint of the structure. The prolonged consolidation has created a technical setup that classical chart traders typically view as a precursor to a major directional move.
Kibar’s analysis indicates that a successful breakout above the $0.62 resistance would complete the seven-year symmetrical triangle and trigger a pattern target near $1.52, a level reflected on long-term charts.
XLM is currently trading at $0.2781, down 9.4% over the past week and 27% over the past month. From its current position, reaching $1.52 as Kibar projected would represent a massive 446% upside, should the breakout occur.
Related: Stellar Price Prediction: XLM Consolidates Near $0.40 as Traders Watch for Breakout
Until that breakout occurs, XLM remains in what Kibar calls a “long-term symmetrical triangle consolidation”. In particular, XLM remains 70.28% below its all-time high of $0.9381, reached in January 2018.
XRP Outlook
Meanwhile, beyond XLM, Kibar’s analysis also touched on Stellar’s rival, XRP. He highlighted that XRP completed its symmetrical triangle formation earlier this year, which led to a breakout of over 500%.
Since that momentum cooled, he believes XRP has entered a rectangle consolidation phase. Kibar suggested that XRP could target as high as $6.18 once it successfully breaks above the $3.34 level again.
Related: Analyst Claims XRP Can End the U.S.–China Trade War: Here’s How
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Source: https://coinedition.com/xlm-holds-seven-year-coil-as-top-analyst-projects-major-breakout-of-446-to-1-50/
