- XLM is currently forming a descending triangle pattern, hinting at a potential bullish breakout if resistance is breached.
- A confirmed breakout above the 50-day moving average could push Stellar toward key resistance levels at $0.313, $0.376, and $0.485.
- Stellar is holding strong above critical support, suggesting continued buyer interest and a possible trend reversal ahead.
XLM has once again come into the light and is gaining attention from both traders and investors. XLM is experiencing a surge in its price with the overall market as the market is shifting from bearish to bullish. The coin is displaying a descending triangle pattern on its daily timeframe, which often leads to trend reversal. If a successful breakout occurs, then it will lead to a maximum resistance zone around $0.485.
At the time of writing, XLM is trading at $0.2363 with a 24-hour trading volume of $133.5 million and a market capitalization of $7.38B. The XLM price over the last 24 hours is slightly down by 1.13%, but over the last week it is up by 2.25% and showing high potential for further upward momentum.
Also Read: Stellar (XLM) Set for Explosive 186% Surge as Key Support Holds Tight
XLM Builds Momentum Toward $0.485 Resistance Test
Moreover, the crypto analyst, Jonathan Carter, highlighted that Stellar (XLM) is currently showing promising technical resilience, holding firm above a crucial support level on the daily timeframe. The digital asset has maintained its position just above the lower boundary of a descending triangle, a pattern that typically signals bearish continuation.
Stellar’s ability to defend this key level suggests that buyers are still present and willing to absorb selling pressure at these lows. Technical analysts are closely watching the 50-day moving average (MA 50), which has acted as dynamic resistance over the past several weeks.
A decisive break above this moving average, combined with a breakout from the descending triangle’s resistance line, could confirm a shift in market sentiment. Such a breakout would likely attract renewed bullish interest, maintaining its position for a potential trend reversal in the near term.
If momentum builds and the breakout is confirmed, analysts have outlined key price targets to the upside. The first target sits at $0.313, which gives a meaningful horizontal resistance level from earlier consolidation phases.
Further targets include $0.376 and $0.485, both of which mark major technical levels that could come into play if Stellar sees sustained buying pressure. These milestones would not only suggest a full recovery from recent declines but could also position XLM for broader participation in the next altcoin rally.
Also Read: XLM Rebounds Strongly: Bullish Wedge Hints at 100%+ Upside Potential