Stellar’s The move outperformed the broader crypto market by 4.86%, bringing XLM closer to the 5% relative strength threshold that often marks the start of major breakout trends.
Trading activity intensified during European hours, with volume peaking at 68.52 million shares, up 78% from its 24-hour moving average. Strong entries confirmed a clean break through the $0.3020 resistance level, as XLM consolidated gains between $0.3020 and $0.3100, establishing firm support around $0.3058.
Analysts are closely watching as XLM approaches the upper limit of a seven-year symmetrical triangle pattern. Chartered market technician Aksel Kibar notes that price compression since 2018 has created a setup with significant breakout potential, projecting a possible move towards $1.52, which represents a 446% rally from current prices if the token breaks out of its multi-year consolidation.
For traders, the focus now turns to whether XLM can maintain momentum above resistance and confirm a long-term breakout. Rising institutional participation at the $0.3020 level and continued buying on pullbacks indicate strengthening demand. Combined with the token’s clear market outperformance, these factors suggest that XLM could be on the verge of a sustained bull phase.
Key Technical Levels Signal Momentum Shift for XLM
Support/Resistance: Primary support was established at $0.3058 with multiple successful tests; resistance formed at session high of $0.3118 with consolidation between $0.3020-$0.3100
Volume analysis: Peak activity of 68.52 million shares (78% above the 24-hour simple moving average) occurred at 09:00, validating the breakout of the $0.3020 resistance level.
Chart Patterns: A double wave rally pattern emerged with an uptrend showing higher lows at $0.2790, $0.2845 and $0.2915 in a total range of 11.6%.
Objectives and risk/reward: Immediate resistance zone at $0.3045-$0.3050 with long-term triangle breakout target at $1.52, representing 446% upside potential if the seven-year pattern resolves to the upside.
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