Stellar (XLM) Price Could Surge To $0.38 :

After a turbulent start to the week, the Stellar price seems to be finding some stability, briefly climbing above the $0.28 level this weekend. This growing momentum has sparked interest from market enthusiasts, with prominent crypto analyst Ali Martinez projecting the XLM token to soon experience a sustained price rise.
XLM Primed For 40% Price Gain
In an X post on March 15, Martinez shared an intriguing projection for Stellar price after rebounding off a crucial level. Martinez noted that the altcoin could be on its way to a new local high over the coming weeks.
This bullish projection is based on the formation of a descending channel pattern on the XLM daily chart. For context, a descending channel is a common pattern in technical analysis characterized by two major (downward-sloping) trendlines. The upper boundary line connects a series of lower highs and the lower channel line connects the lower lows.
The asset’s price typically persists within the channel; with the upper boundary line acting as resistance and the lower channel line considered a support floor. The descending channel formation is usually a bearish pattern, indicating the persistence of a downward trend.