Stellar (XLM) Price Surges as Chart Patterns Signal Potential Push Toward $1.29

TLDR:

  • Stellar (XLM) climbs 30% in days, with the next resistance level set at $0.681.
  • A breakout above $0.681 could unlock 102% upside toward $1.29 target.
  • Analysts eye long-term reversal with potential highs at $2.50 and $8.66.
  • Daily trading volume jumps to $746M, reflecting rising investor interest.

Stellar (XLM) has climbed nearly 30% in just a few days, drawing attention across the crypto market. The rally follows a strong technical breakout and rising volume, hinting at further upside. 

Current indicators show the token may be preparing for a run toward key resistance at $0.681. 

A breakout from that level could trigger a larger move toward the $1.29 area. Analysts tracking XLM suggest this momentum shift could mark the beginning of a trend reversal.

Stellar Bullish Momentum Builds as Resistance Approaches

According to chart analyst Javon Marks, XLM’s recent uptrend may still have room to run. 

After gaining nearly 30% in a matter of days, the token is eyeing a critical resistance level near $0.681. Marks noted that surpassing this mark could unlock a path toward a 102% price climb, with $1.291819 as the next major target.

The chart displays a bullish pattern forming since early 2023, with higher lows suggesting a shift from the previous downtrend. Price movement has accelerated sharply, backed by increasing volume, a sign of strong buyer interest.

Technical data shows Stellar reversed course after a long decline that began in 2021. By March 2023, a higher low formed, signaling a possible trend change. Since then, price action has followed an ascending pattern, supported by healthy corrections.

ChartNerd also weighed in, pointing to a major breakout in late 2024 when XLM surged fivefold. After the rally, prices pulled back to the monthly 20 EMA around $0.22. 

He described this as a bullish retest that may support a continuation toward long-term targets at $2.50 and $8.66.

Short-Term XLM Price Action Points to Growing Interest

Stellar’s recent trading data reflects this shift in sentiment. Per CoinGecko, XLM’s current price stands at $0.3284. The 24-hour volume hit over $746 million, with a 12.88% jump in the last day and 36.65% over the past week.

This volume surge supports the argument that investors are returning. If momentum holds, the next challenge lies in pushing past $0.681 and confirming the reversal.

XLM price on CoinGecko

If XLM breaks its current resistance and holds above it, analysts believe the market may revisit former highs. With technical support intact and buying pressure increasing, XLM could resume its recovery phase.

Current patterns suggest the crypto asset is reestablishing strength. If bullish conditions persist, further price expansion toward $1.29 and even higher levels remains on the table.

 

The post Stellar (XLM) Price Surges as Chart Patterns Signal Potential Push Toward $1.29 appeared first on Blockonomi.

Source: https://blockonomi.com/stellar-xlm-price-surges-as-chart-patterns-signal-potential-push-toward-1-29/