# Analyst Doubles Down on Stellar (XLM) Ahead of Potential Rally Crypto technician Egrag identifies key resistance levels and bullish targets for XLM. - **Source:** [DailyCoin](https://brifing.si/source/3e9b0f85-cb2f-40ee-ba61-db9410cf0937) - **Published:** 2026-09-22 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/8b57373a-7b91-4fdc-ae29-9381d92b882b ## Analyst's bullish stance on XLM French crypto technician Egrag is doubling their XLM holdings, aiming to match their XRP token count. This move comes as XLM breaches a critical resistance level at $0.213, bouncing off the $0.0209 Bollinger Band support. The analyst's confidence stems from technical indicators showing potential for a broader rebound rally in the Stellar ecosystem. ## Key resistance levels to watch XLM faces immediate resistance at $0.22, with a double top retest likely if this level is breached. The token previously peaked at $0.258 in mid-May before retreating to $0.155 by mid-August. The $0.24 level is identified as a crucial juncture that could determine bull or bear market dominance in the near term. ## Whale activity signals accumulation Large investors are showing renewed interest in XLM at current prices, a behavior known as 'buying the dip.' The whale-relevant CMF index has turned positive again, indicating accumulation by major holders. This mirrors mid-May's market dynamics when institutional players last showed strong appetite for Stellar. ## Fibonacci Circle price targets Egrag has outlined three ambitious price targets based on Fibonacci Circle analysis: $1.59, $2.25, and $3.72. These levels represent historical smoothed moving averages that could indicate future price movements. The white ascending line on charts shows previous breakouts within this technical structure. ## Market context and comparisons Stellar's current performance is being watched alongside other major cryptocurrencies. While Bitcoin recently broke a 45-week bear market ceiling, XLM has conquered its mid-tier demand zone at $0.188. The analyst's focus on token count rather than dollar value suggests a long-term accumulation strategy. ## Technical indicators to monitor Traders should watch the Red-Label Bollinger Band at $0.0209 as key support and $0.22 as immediate resistance. Spot demand will be another crucial indicator of whether the current momentum can sustain. The Fibonacci Circle analysis provides a framework for understanding potential price trajectories. ## Analyst's personal trading strategy Egrag reveals a nuanced approach: while willing to sell XLM, they struggle to part with XRP holdings. This distinction suggests different long-term views on these assets. The analyst's public declaration of doubling XLM positions adds credibility to their bullish outlook based on technical factors. ## Implications for crypto investors The combination of technical breakout signals, whale accumulation, and ambitious Fibonacci targets creates a compelling case for XLM. However, investors should note the $0.24 level as critical for confirming bullish momentum. This analysis provides a data-driven framework for evaluating Stellar's near-term potential. ## Sources covering this story - https://dailycoin.com/analyst-im-doubling-on-stellar-before-xlm-price-does/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._