Bitcoin’s Momentum and Stellar’s Potential: What the Analysts Say
A well-known crypto analyst has shared his insights on the current trends of Bitcoin (BTC) and Stellar (XLM), shedding light on potential price movements in the coming months.
Rekt Capital, a pseudonymous strategist with a large following on social media, recently updated his analysis on Bitcoin’s technical uptrend. According to his observations, Bitcoin continues to hold its four-week technical uptrend line, indicating that the top crypto asset by market cap may maintain its upward momentum. However, he notes that if Bitcoin were to break this trend line, a deeper correction could be on the horizon. Currently, Bitcoin is trading at $100,253, with a slight decrease of 2.1% over the last 24 hours.
Rekt Capital’s chart suggests that Bitcoin could potentially surpass the $105,000 price level by early next year, highlighting the positive outlook for the leading cryptocurrency.
Turning his attention to Stellar (XLM), the analyst mentioned in his newsletter that the digital asset has recently surpassed a key price reference point, indicating potential strength in the market. He specifically pointed out the significance of the Binance Listing Price as a crucial level for XLM’s price action. Historically, this level has acted as both resistance and support for Stellar, with price movements revolving around this key zone. Rekt Capital suggests that any further pullbacks in XLM should lead to a retest of this important region, emphasizing its importance in the coin’s price history.
Currently, Stellar is trading at $0.439, with a 1% decrease on the day. Rekt Capital’s analysis suggests that XLM’s price movements will continue to be influenced by the Binance Listing Price level, providing a roadmap for potential support and resistance levels in the future.
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