Stellar Lumens Price Prediction: Will XLM Price Reach $1 in 2023?

Key Takeaways

• Ever since the outcome of the Ripple vs SEC judgment was produced, the Stellar Lumen’s price underwent a massive upswing, gaining more than 100% in a day
• The bulls continue to hold significant strength as the prices remain close to the upper gains, aiming to secure a higher target in the next few days
• The technicals remain bullish, which suggests minimal interference from the bears may be expected for some time 

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Stellar Lumens Overview as of July 26, 2023

XLM Price Forecast For This Week

After the iconic rally in the last week, the bulls appeared to have drained to some extent, which caused the price to face a minor pullback at the beginning of the current week. Since then, the prices have remained consolidated within a narrow range, and the bears also jumped in to restrict the price below the major resistance. However, the price seems to be accumulating strength for the next bullish wave. 

As the trade is fast approaching the weekly close, the possibility of a notable upswing emerges as the bullish volume is slowly rising. Hence, the XLM price may regain the lost levels above $0.18 initially and later try hard to reach $0.2 before the end of the week. However, the bears hold a strong grip at $0.2, and hence, rising above these levels could be a tedious job at the moment. 

Read More: Cardano Price Prediction

Stellar Lumens Price Prediction for July 2023

After experiencing a significant upswing throughout June, the XLM price drained some of its gains in the first few days of July. However, the trend flipped as the rally dropped below $0.1 and surged magnificently to mark the yearly highs close to $0.2. Although the price is facing minor bearish interference at the moment, the rally continues to remain under bullish influence. 

The monthly close is on the horizon, and considering the previous one, the volatility is believed to rise significantly. With the fresh inclusion of the buying pressure, the volatility may also rise, which has already peaked since the recent jump. Therefore, with the pressure mounting, the price may also witness a positive impact and rise beyond the monthly highs. By the end of the month, the XLM price may trade between $0.2 and $0.205. 

Stellar Lumens Price Prediction 2023-2024

Despite a bullish start, the XLM price remained largely consolidated throughout the first half of 2023 and traded below $0.1. The price did undergo a couple of upswings, but the bears soon dragged the price lower in no time. However, the recent upswing has induced massive bullish momentum within the crypto market, and hence the following trade is expected to remain under bullish influence. Hence, the Stellar crypto price is believed to maintain a healthy upswing and close the yearly trade between $0.25 and $0.3.

The price may begin in 2024 with a bullish push, as it has maintained a healthy upswing since the start. The rally is expected to maintain a steep upswing throughout the first quarter and attain levels close to $0.55 to $0.65. Unfortunately, the bears may step in, dragging the price lower, which may further trigger a notable correction. During the second half of 2024, the price may flip and trigger a significant upswing. A bull run is expected to begin during the last quarter of 2024, which may lift the levels above $1, setting up a new ATH by the end. 

XLM Price Prediction 2023-2050

Stellar Lumens Technical Analysis

Source: Tradingview

• After the recent upswing, the XLM price is trading within an ascending triangle and facing rejection from the upper resistance
• The buying pressure has faded to a large extent, indicating the price may witness a minor pullback
• Therefore, the XLM price may drop and reach the lower support of the triangle but could sustain above $0.12 
• The bulls are expected to jump in and trigger a massive rebound to rise above the interim resistance levels at $0.16 which may pave the way to reach $0.2

Will the Stellar Lumens Price Rise Again in 2023?

Stellar Lumens price has been trading within a narrow consolidation since the beginning of the year and hence is believed to trigger a significant rebound very soon. The technicals continue to remain in bullish favor, and hence the price is believed to rise and secure higher targets in the coming days. Therefore, the upcoming trend may be bullish, even though the price may experience a couple of bearish reversals. 

Additional Read: Dogecoin Price Prediction

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