- Stellar has rebounded 8x from its lows and now targets $0.68 as bullish sentiment builds after a long correction.
- Analyst Javon Marks sees Stellar on track for $0.681 as rising momentum and market-wide strength fuel its multi-year recovery.
- After bottoming near $0.05, Stellar shows renewed strength with current gains supported by Bitcoin and Ethereum’s bullish momentum.
Stellar (XLM) appears to be in the middle of a powerful comeback as it targets $0.681, according to analyst Javon Marks. After experiencing a rollercoaster ride over the past four years, the cryptocurrency has shown a full cycle of boom, bust, and revival.
The chart reveals a parabolic rally in 2021, followed by a deep correction that stretched into 2023. Now, Stellar is once again gaining strength, trading around $0.40–$0.50 and setting its sights on higher resistance levels.
The price began its run in early 2021, rising from $0.10 to as high as $0.90 by the end of that year. This explosive move marked a classic market top. However, the gains didn’t last. A prolonged bear market set in throughout 2022, with the price sinking back to around $0.05–$0.10. That range later formed a solid support level and sparked a new uptrend.
Classic Boom-Bust-Recovery Pattern
The market followed a typical pattern of lower highs and lower lows during the correction. Each rally attempt failed until buyers finally stepped in at the $0.05 zone. That bottom signaled the start of a multi-month recovery. By 2023, Stellar broke key resistance and formed a consistent upward trend.
Source: Javon Marks
This year, momentum has returned. Stellar surged past $0.40, nearly 8x from its cycle low. Despite still trading below its 2021 high, confidence is building again. Traders now watch the $0.68 target as a critical milestone.
Stellar Eyes $0.68 Breakout Zone
Javon Marks believes Stellar is heading directly toward that target. Moreover, horizontal levels marked on the chart highlight key resistance and support zones. These levels help guide bullish sentiment.
Additionally, the broader crypto market’s strength supports Stellar’s recovery. Bitcoin and Ethereum rallies have pulled altcoins higher. Hence, momentum across the board is lifting confidence.
Stellar’s recovery showcases crypto’s cyclical nature. After massive crashes, disciplined investors who stayed patient are now seeing strong returns. Consequently, if current momentum holds, Stellar could soon revisit its previous all-time highs and possibly break past them.
