Price analysis
Here’s why Stellar Price Could Go Parabolic Soon
Stellar price plunged in the last three weeks due to a risk-off sentiment brought forth by Fed’s interest decision for 2025. The XLM price has formed a falling wedge pattern and found support at the 50-day moving average, indicating an eventual comeback as investors buy the dip.
Stellar Price Technical Analysis: Falling Wedge Forms
The Stellar Lumens coin fell sharply and formed a few lower lows and lower highs as Bitcoin and most altcoins crashed. This decline has seen it form a falling wedge chart pattern, which is made up of two falling trendlines. The upper trendline connects the highest level on December 2 and 17, while the lower lines link the lower lows since November 26.
A falling wedge is a highly popular reversal sign. In most cases, this reversal happens when the two lines are nearing their confluence levels, which is about to happen.
Another bullish case is that the XLM price has found support at the 50% Fibonacci Retracement level. This retracement links the lowest and highest levels in 2024.
Further, the Stellar price seems to have completed its mean reversion, which explains why it crashed in the past few days. Mean reversion is when a cryptocurrency or a stock return to its average price. In this case, it has found substantial support at the 50-day moving average, where it has failed to drop below in the past two consecutive days.
XLM price has also found support near the lower side of Andrew’s pitchfork tool. Therefore, the coin will likely have a strong bullish breakout in the coming days. If this happens, it may rally and retest the psychological point at $0.50, which coincides with the 23.6% retracement level.
Stellar Lumens price’s bullish view will become invalid if the coin slips below last week’s low at $0.3125. Such a drop will see it drop to the psychological level at $0.30.
XLM Price Has Bullish Fundamentals
Stellar Price has some bullish fundamentals that could push its price higher in the next few weeks. The first big thing is that Stellar and Ripple are often seen as ‘cousins’ since they target the payment industry. Also, Stellar’s founder, Jed McCaleb, is one of Ripple’s founder.
Therefore, Ripple’s performance could benefit the XLM price as it has previously done. As we wrote earlier, analysts are optimistic that the XRP price will skyrocket by 60% if the SEC approves a spot XRP fund. Another analyst expects the Ripple price to surge to $4 as Binance transactions rise.
Further, Stellar’s network is doing relatively well as the DeFi total value locked stages a slow recovery. DeFi Llama data shows that the Stellar Network had a TVL of over 135 million XLM, higher than last week’s low of 112 XLM.
Therefore, a combination of strong fundamentals and technicals may help the Stellar price rebound in the near term.
Frequently Asked Questions (FAQs)
Stellar lumens has retreated because of the ongoing crypto sell-off. Bitcoin and other cryptocurrencies like Ether and Solana have all plunged hard.
The XLM token may rebound to at least $0.50 because the falling wedge chart pattern works out well. Besides, it has already completed the mean reversion pattern.
Stellar price has strong fundamentals, including its similarity with Ripple and its growing ecosystem in the DeFi industry.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The crypto market has dropped today, March 28, with Bitcoin price dropping below $86,000. This decline in BTC price has also affected Ethereum, XRP, and Dogecoin. This widespread market crash has been caused by a massive sell-off in the spot market as depicted by data from Bitfinex. Macroeconomic concerns such as Trump’s fresh tariffs and the PCE inflation data are also causing market anxiety.
Why is BTC, ETH, XRP, and DOGE Dropping Today?
Bitcoin price struggles to defend the support level at $86,000 following a 1.6% dip in 24 hours. At the same time, Ethereum and XRP have fallen by 5% and 4%, respectively. Dogecoin price has experienced the biggest single-day loss of 7% despite analysts sharing a positive DOGE outlook.
One of the reasons why the Bitcoin price is dropping today is an influx of selling activity on the Bitfinex exchange. This selling activity is shown by the spot CVD indicator that points out a large number of sell orders on Bitcoin while buying pressure weakens. The spot CVD has been on a downtrend since early this week, a sign that traders are capitulating.
Ethereum price is also dropping today because of low demand from buyers. One analyst on X noted that selling pressure has been weighing on ETH since December last year. If this continues, Ethereum will continue to drop further and possibly fall below $2,000.
Additionally, the BTC Deribit Skew shows that the market sentiment towards Bitcoin is now bearish. Analyst Nazro has observed an increase in the number of traders that are purchasing put options in the $80,000 to $85,000 price range. When many traders are buying put options instead of call options, it shows that they anticipate the Bitcoin price to continue dropping.
This negative market sentiment adds to the factors that are making the crypto market to drop today.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Dogecoin price has tanked this year, coinciding with the recent crypto sell-off. This crash has erased billions of dollars in value. Still, one crypto analyst believes that it is just a matter of time until the DOGE price recovers, and potentially hits the psychological point at $1.
Crypto Pro Predicts Dogecoin Price Will Hit $1
A popular crypto expert has come out with a bullish DOGE price prediction even as it deviates further from its 2024 highs. The analyst used a weekly chart to identify chart patterns he believes will drive the upcoming bull run.
As shown below, he noted that the Dogecoin price has been forming a falling wedge pattern on the weekly chart. The upper side of this wedge links the highest swings since December, while its lower side connects the lower lows since Dec. 19. This pattern often leads to a strong bullish breakout when the two lines are nearing their confluence level.
The analyst also pointed out that DOGE formed a similar pattern between March and November last year, culminating in a strong bull run to a high of $0.45.
In this case, Dogecoin has formed a falling wedge and retested the important support at $0.2280, the highest swing in March last year. A break and retest pattern signals a potential continuation.
The pro now expects that the coin will initially jump to $0.50. After that, he expects it to surge to $1. Such a move would be a 400% surge from the current level. It would also push its market cap to $140 billion.
A 400% surge is possible in the crypto market. For example, Dogecoin jumped by 720% from its 2023 lows to the highest swing in 2024. It can also jump by 285% to get to its all-time high of $0.7370. After that, it will need to soar by just 0.35% to hit $1.
The bullish DOGE outlook will be canceled if the coin crashes below the ascending trendline that links the lowest levels since June 2023.
Potential Catalysts to Push DOGE Price to $1
Dogecoin price has numerous catalysts that may push it to $1. First, the upcoming reciprocal tariffs may sink the US into a recession, leading to Fed interventions like rate cuts and quantitative easing. These actions may lead to a new crypto bull run.
Second, Polymarket users believe that the SEC will approve a DOGE ETF. That’s because Dogecoin is similar to Bitcoin in that it is a proof-of-work coin that the SEC does not consider a security. Such an ETF will lead to more demand from Wall Street investors.
Further, Dogecoin may benefit from the creation of crypto reserves since it is a candidate for inclusion. Finally, DOGE is one of the top blue-chip meme coins, meaning that it may see traction as investors rotate from risky Solana meme coins.
Frequently Asked Questions (FAQs)
Technicals suggest that the DOGE price is bullish and that it may surge to $1 in the coming months.
The most bullish view is that it has formed a falling wedge pattern on the weekly chart.
The bullish outlook to $1 may take time since it is based on the weekly chart, which is a lagging one. As such, it may take months or years.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Cardano price has remained in a tight range over the past few weeks as market participants await the next catalyst.
Cardano (ADA) was trading at $0.760, down by 43% from its highest level in December last year. It has underperformed other popular coins like Mantra (OM) and Cronos (CRO) this month.
Cardano has three main catalysts that could propel it to $2 in the coming months. First, there are signs that whales are accumulating the coin in anticipation of more gains ahead. Data shows that whales have acquired over 240 million ADA coins in the past week, valued at over $182 million. The whale purchasing trend appears to be gaining momentum.
Second, Cardano could benefit from the likely approval of a spot ADA exchange-traded fund by the Securities and Exchange Commission. Grayscale Tuttle Capital Management have already submitted applications.
An ADA fund would be a positive development for the coin, as it could lead to more inflows from institutional investors.
Third, data shows that more investors are staking their Cardano coins, signaling that they intend to hold them long-term. The staking market cap has jumped by 8.1% to $16.1 billion, while the yield stands at 2.60%.
Cardano price technical analysis
The other catalyst for ADA price is that it is in the second phase of the Elliott Wave pattern. This phase is characterized by a brief pullback, followed by the third bullish wave — typically the longest.
Cardano has likely completed the second phase and is poised to enter the third wave, which could push it to the psychological level of $2. This target aligns with the 38.2% retracement level and represents a 160% increase from the current price.
Cardano remains above the 50-week Exponential Moving Average and is forming a bullish flag pattern, a bullish continuation signal comprising a vertical line and a flag-like consolidation.
However, this prediction is based on the weekly chart, meaning the pattern could take time to fully develop. The flag section of the bullish flag has already taken more than three months to form.
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