Stellar Price Targets $2 as On-chain Factors Strengthen

The Stellar price has recently faced profit-taking pressures, leading to a short-term pullback on the daily chart. The XLM price saw this decline after hitting $0.4713, retreating to $0.4073 at the time of writing. This decline has trimmed its market capitalization to $12.76 billion. 

Looking more closely at the hourly chart, the XLM price chart outlines a bearish flag formation, hinting at a possible move toward $0.3789 to $0.3628. 

Yet, despite the ongoing correction, the broader market structure still shows resilience and shows bullishness. 

Stellar’s Long-Term Structure Remains Resilient

Although the short-term outlook may appear uncertain, the longer-term setup for the Stellar price still continues to impress with a bullish structure intact. As the breakout from its 10-month consolidating range still demonstrates untapped momentum. 

Meanwhile, on the weekly chart, XLM price forecast signals that buyers remain committed. This could lead to a retest of the multi-year symmetrical triangle’s upper resistance near $0.5876. 

Should this occur, Stellar price prediction scenarios point toward retesting former highs at $0.63 and $0.79 in sessions ahead.

Analyst Bets At $2 Target with Elliott Wave & Historical Context

Beyond traditional chart structures, a separate Elliott Wave-based analysis highlights a broader bullish outlook. 

Over the past 14 months, the XLM price chart has mapped out four completed waves, placing the current price action of XLM market in its fifth and potentially final upward wave. 

The analysis suggests that if this trajectory holds, the Stellar price prediction suggests an extended upside that could stretch toward the $2.0 level. 

On-Chain Displays Growth In Strength Of XLM Crypto

Complementing these technical perspectives, the Stellar crypto’s on-chain performance still continues to provide confidence, as well.

The network’s total value locked (TVL) per DefiLama remains near its all-time high, recorded at $146.75 million, when writing.

Meanwhile, the stablecoin market cap on Stellar has reached a new all-time peak of $678.75 million. This consistent growth strengthens the foundation of the Stellar ecosystem and reinforces that, despite near-term turbulence, Stellar reflects a network with deepening market use cases and adoption.