XLM Rally Ahead: How Close Is XLM to a Breakout?
The rising momentum of Stellar (XLM) has raised expectations for a possible breakout near the $0.51 barrier. As the market sentiment improves and trade volume increases, investors are keeping a careful eye on important resistance levels that could dictate XLM’s next move. Given the recovery signals in the larger cryptocurrency market, technical indicators indicate that Stellar may be poised for a big surge. However, will XLM be able to maintain its speed and overcome important price barriers?
On the daily chart, XLM is displaying conflicting indications as the price has consolidated inside a bullish flag. The price of XLM dropped 3.57% at the time of writing, to $0.3264, while trading volume rose 27.58%. A breakout over this bullish flag could result from the price consolidation after consistent network growth and total value locked in late 2024 to date.
Can XLM Break Out? Bull Flag Pattern Signals Potential Surge to $0.51
According to AMBCrypto analysis, XLM is trading inside a bull flag that could be a continuation pattern of its previous bullish momentum. The altcoin faces resistance at the $0.35-$0.40 key zone, leading to a price consolidation as the $0.28-$0.30 zone becomes the support.
The consolidation can result in a breakout above the crucial $0.40 resistance level if XLM is under a lot of buying pressure. The next target, according to Solberg Invest, would be $0.51, a prior resistance level. XLM’s price volatility indicates a short-term adverse market attitude, which prevents it from confirming its upward momentum.
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