Usman Salis
Stellar's recent price action has crypto traders buzzing as XLM forms a textbook bullish pennant right at a make-or-break level that could determine its next major move.
Stellar (XLM) Price Coils Tight in Bullish Pennant Formation
Right now, XLM sits at $0.4391, practically knocking on the door of that crucial $0.45 resistance. What's got everyone's attention is this clean pennant pattern showing up on the hourly chart – you know, that classic flag-like formation where price gets squeezed tighter and tighter before it eventually explodes.
These patterns don't mess around. They're basically the market's way of taking a breather before continuing the party, and all signs point to the bulls being ready to push higher.
$0.515 Target Comes Into Play if Stellar (XLM) Price Breaks Higher
Here's where it gets interesting – if XLM can punch through that $0.45 ceiling with some decent volume behind it, we're looking at a potential rocket ride to $0.515. That's nearly 14% gains sitting right there for the taking.
Of course, crypto being crypto, there's always the flip side. If $0.45 holds firm and pushes price back down, we might see XLM cool its heels in this consolidation zone a bit longer before making another run at it. But with the technicals looking this clean, the smart money seems to be betting on the breakout scenario.
Usman Salis
