Charting Guy Highlights a 7-Year “Adam & Eve” Pattern Forming in the XLM Market, Suggesting a Potential Breakout

In a recent tweet, Charting Guy, a well-known cryptocurrency analyst, highlighted a notable pattern forming in the Stellar Lumens (XLM) market.

A renowned cryptocurrency analyst, Charting Guy, recently highlighted a seven-year “Adam & Eve” pattern in the Stellar Lumens (XLM) market, hinting at a potential breakout for the cryptocurrency.

In a tweet on July 15, Charting Guy shared an observation of a large-scale Adam & Eve pattern forming in XLM’s price chart over the last seven years. He pointed out that the resistance, which serves as the pattern’s neckline, is close to being breached, indicating a possible bullish reversal.

The chart he shared showcases how the Adam pattern formed between 2018 and 2020 with a sharp drop and rebound, while the Eve pattern developed in a more rounded shape from 2021 to 2024.

Based on this formation, Charting Guy suggests a bullish breakout that could push XLM’s price target to the $3 to $5 range. This projection indicates a potential 50-fold increase from the bear market lows, highlighting the scale of the potential upside.

“Seven-year Adam & Eve on XLM. Resistance (neckline) almost touched for the last time before a potential breakout. In Charting Guy we trust,” wrote the analyst.

The community has reacted diversely to Charting Guy’s analysis, with some expressing optimism and others remaining skeptical. Among the reactions are comments from other X users.

For instance, Ernest Enriquez expressed confidence in XLM’s potential, sharing that he has significantly increased his holdings in anticipation of a potential 10x gain. His enthusiasm echoes the broader sentiment among XLM supporters, who see the coin as an undervalued asset poised for a major breakout.

Another user, Xrpisking, drew a parallel between XLM and XRP, suggesting that XRP tends to lead market movements that XLM follows. This correlation is a point of interest among market participants, as both coins are often considered competitors in the cross-border payment space. The suggestion is that traders should position themselves in XLM before a similar surge to that of XRP.

From a technical perspective, the Adam & Eve pattern’s significance lies in its historical reliability as a reversal indicator. If the pattern completes, it could send Stellar (XLM) towards the $3 to $5 target range, aligning with Charting Guy’s expectations. However, it’s important to acknowledge that technical patterns are not foolproof.

One factor supporting the bullish case is the increasing adoption of Stellar’s blockchain technology, particularly in facilitating cross-border payments and decentralized finance (DeFi) projects.

Moreover, the broader crypto market’s performance, especially in the context of Bitcoin’s cycle and the anticipated rise of altcoins, could play a significant role in determining XLM’s price trajectory.