Usman Salis
Stellar's been quietly building strength while most crypto traders focus on bigger names. Trading around $0.42, XLM is sitting pretty at a crucial support zone that could determine its next major move. Here's what the charts are telling us about this potential breakout setup.
XLM Price Holds Above Critical $0.40 Zone
Stellar is currently trading at $0.4210, down just 0.82% on the day – pretty solid performance considering the broader market chop. What's really catching traders' eyes is how well XLM is holding above that $0.40-$0.42 support zone. This level has become the line in the sand for bulls.
Trader @VIPROSE is calling this an "accumulation zone," highlighting three juicy targets: $0.55, $0.66, and the big kahuna at $0.77. But here's the catch – if things go south, the invalidation level sits way down at $0.24. That's where the bullish party officially ends.
The technical picture looks pretty encouraging though. XLM appears to have broken free from its previous downtrend, printing higher lows and showing some real backbone. When you see a coin holding support while setting up higher lows, that's usually when smart money starts paying attention.
XLM Price Targets Point to $0.55, $0.66, and $0.77
The roadmap to $0.77 isn't just wishful thinking – it's backed by solid Fibonacci levels. Traders are watching $0.4584, $0.5610, and $0.6719 as stepping stones on the way up. Each of these levels could provide either resistance or confirmation that the rally is gaining steam.
The sweet spot to watch is $0.46. Once XLM clears that hurdle convincingly, we could see momentum really pick up toward that first major target at $0.55. From there, $0.66 comes into play, and if retail FOMO kicks in, $0.77 becomes a realistic possibility.
But let's keep it real – crypto doesn't move in straight lines. A drop below $0.40 would throw cold water on this bullish narrative and probably send XLM searching for lower support levels.
The bigger picture looks interesting too. With Bitcoin dominance potentially topping out, altcoins like Stellar might finally get their moment to shine. If that rotation into alts happens and XLM can maintain this support, we could see some serious fireworks toward those upper targets.
Usman Salis
