XLM Coin Price Explodes 5% as Bulls Shatter Key Resistance – $0.6357 Next?

Stellar's native token has caught fire after months of sideways action, with XLM price jumping 5.03% to $0.4617 following a decisive breakout from a descending channel pattern. Technical analysts are now eyeing the $0.6357 level as the next major milestone.

XLM Smashes Through Descending Channel Resistance

Stellar (XLM) has burst through the upper boundary of a descending channel that kept prices suppressed for months. Currently trading at $0.4617, XLM posted solid gains of 5.03% over the past week with clean breakout momentum.

The chart analysis points to an immediate target of $0.6357, representing potential upside of nearly 38% from current levels.

Volume Surge Confirms This XLM Rally Isn't Just Hot Air

Trading activity has ramped up significantly as prices pushed higher, with volume expanding alongside gains – usually a sign that institutional money is taking notice.

The key level to watch is $0.4000 support. As long as XLM stays above this floor, bulls remain in control. If momentum continues, that $0.6357 target could come into play sooner than expected.