The price of staller lumens was included in January, reflecting the performance of bitcoins and most other altcoins.
The Steler (XLM) traded at $ 0.4240 on Friday, 33% below its peak in November last year, when he experienced a strong rally.
Technical suggests that the price of XLM may increase in February
The staller has formed several fast patterns in February, indicating further profit capacity. First, in December and January, the consolidation phase created part of a rapid penette pattern, which was a widely recognized continuity signal. This pattern has a long vertical rally, followed by a symmetric triangle. A rapid breakout usually occurs when the two rows of the triangle have an attitude of convergence.
Second, Elliot Wave formation suggests additional reverse capacity. This pattern consists of five major stages, which begin with a rapid wave, followed by a corrective pulback. The third wave, which took place in November, is usually the longest, and thereafter was the fourth corrective wave. Depending on this structure, the steller can enter its fifth rapid wave in February.
Third, the staller has formed a golden cross pattern on the chart, where the average has been exceeded due to 50-week and 200-week. The price remains above these two averages, showing that the speed of fast remains intact.
Therefore, the stellar can rebound and retrest at its all -time high levels of $ 0.7960 in February, which represents a potential 90% increase from its current level.
Potential catalyst
The staller will jump for several reasons. First, historical figures suggest that February is often a strong month for cryptocurrency. Seasonal trends indicate that bitcoins (BTCs) and atherium (Ath) perform well in February and March. If it holds the pattern, other other follow the cryptocurrency, which includes stellar and XRP, may benefit.
Second, Donald Trump is considering focusing on meds in USA Coins to appeal to the Crypto industry. The move will benefit coins such as steller, which was created in the US in 2014.
Also, an XRP ETF Approval will be beneficial for stellar because two coins are often seen as cousins as they occur in the payment industry. Z McCaleb, its founder, Ripol (XRP) was also part of the team. Therefore, when this happens, the possibility of a stellar lumines ETF approval will also increase.
