Saad Ullah
Stellar (XLM) is capturing trader attention as technical indicators point toward a potential major price move in the coming weeks. With the cryptocurrency showing resilience at current levels and building momentum, market participants are closely watching for signs of the next significant breakout that could propel XLM toward new yearly highs.
Trader Highlights XLM's Bullish Setup
Recent analysis from trader has brought attention to Stellar's promising technical setup.
Currently trading at $0.3974, XLM has demonstrated solid price action with a recent high of $0.4103 before pulling back to test support.
The substantial trading volume of 680.48M indicates strong market participation, suggesting that institutional and retail interest remains robust as the token consolidates near key levels.
Critical $0.42 Resistance Could Unlock $0.47 Target
The path forward for XLM hinges on its ability to break through the crucial $0.42 resistance zone. Technical analysis suggests that a decisive move above this level could open the door for a rally toward the $0.47 target within a two-week timeframe. Such a breakout would represent approximately an 18% gain from current levels and could position Stellar for a test of its 52-week highs.
Market observers note that the current price structure shows classic bullish characteristics, with higher lows forming and volume supporting each dip. However, failure to clear the $0.42 barrier may result in continued sideways movement within the $0.39-$0.42 range as the market awaits the next catalyst for directional movement.
Saad Ullah
