Saad Ullah
Stellar (XLM) is catching fire after breaking through a downtrend channel, now holding above the crucial $0.44 level that could determine its path to $0.50. Fresh off a major breakout, XLM finds itself at a critical moment where bulls are defending key support levels.
Stellar (XLM) Breaks Free From Falling Channel Pattern
Stellar is currently trading at $0.4398, down 1.59% for the day - not too bad considering crypto's usual volatility. What's got traders excited is XLM's breakout from a "falling channel" pattern that had been keeping the price trapped.
The breakout pushed Stellar into the $0.44-$0.45 zone, which now acts as crucial support. This retest phase is critical - if XLM can hold above $0.44, it signals the market is ready for the next move up. Think of it like clearing a hurdle - you need to stick the landing to keep moving forward.
XLM Price Targets $0.50 as Bulls Fight for Control
If buying pressure kicks in and XLM holds above $0.44, we're looking at a potential run toward $0.50 - both a psychological barrier and technical resistance level.
But crypto doesn't always cooperate. If sellers push XLM below $0.44, the next stop would likely be around $0.40, which would kill the current bullish setup.
Right now, sentiment remains positive following the breakout. As long as that $0.44 level holds, the bias stays tilted toward higher prices, with $0.50 firmly in bulls' crosshairs.
Saad Ullah
