Peter Brandt Cites XLM's 300% Potential from Rising Triangle Amid Altcoin Downturn

Veteran trader Peter Brandt has drawn attention to Stellar (XLM) as a potential breakout candidate in a crypto market dominated by underperformance. His analysis highlights a long-term bullish technical pattern on the monthly chart, characterized by a broad ascending triangle forming since 2018. The pattern features a horizontal resistance level and a rising support base, with the ADX indicator at 45.17 signaling strengthening trend conditions [1]. XLM’s current price of $0.42900 sits just below the upper resistance range that has historically capped its movements, raising speculation about a potential reversal [1].

Brandt’s focus on XLM contrasts sharply with his broader skepticism of the altcoin sector, where he estimates over 3.7 million tokens are already "dead" and warns that more than 95% of the 11,000 actively traded cryptocurrencies may eventually become nearly worthless [1]. Despite this bleak outlook, XLM’s technical structure sets it apart: unlike most altcoins languishing far below their peaks, it has established a defined base and is positioned to challenge a major resistance level [2]. The trader’s inverse head-and-shoulders pattern, visible from 2018 to 2023, suggests a potential long-term reversal if the neckline at $0.50 is confirmed. A successful breakout could propel XLM toward $1.50, a 300% increase from its current price [2].

The market’s selective strength underscores the importance of technical fundamentals. XLM’s cross-border payment utility and partnerships with the Stellar Development Foundation position it as a rare exception in a weak altcoin cycle [2]. However, the projected rally remains conditional on holding key support levels. A drop below $0.30 could invalidate the pattern, undermining the bullish case [2].

Brandt’s endorsement carries weight given his reputation for rigorous chart analysis and candid market assessments. His rare public optimism reflects confidence in XLM’s real-world applications, particularly in low-cost international transactions. While technical indicators and market sentiment are critical, XLM’s ability to sustain momentum above critical thresholds will determine its trajectory in the coming months [2].

Source: [1] [Stellar (XLM) Could Become 'Rock Star,' Veteran Commodity Trader Says](https://u.today/stellar-xlm-could-become-rock-star-veteran-commodity-trader-says)

[2] [Peter Brandt Just Named Stellar (XLM) His “Rock Star” Pick – Here’s Why](https://captainaltcoin.com/peter-brandt-just-named-stellar-xlm-his-rock-star-pick-heres-why/)