Usman Salis
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.
Usman Salis
