Saad Ullah
Stellar (XLM) is catching traders' attention after breaking free from a falling wedge—a chart pattern that often signals a shift in momentum. The cryptocurrency has pushed above its descending resistance line and is now testing whether former barriers can hold as new support.
What the Chart Shows
Analyst Professor Moriarty highlighted this technical setup, pointing to $0.52 as the next potential milestone if buyers maintain control.
The daily XLM/USDT chart on Binance reveals a clear breakout story:
- The wedge is broken: After weeks of tightening price action, XLM decisively pushed through the upper boundary of its falling wedge formation
- Retest underway: The coin is now hovering around $0.40, a level that previously kept rallies in check but may now serve as a floor
- Next stop: $0.52: If momentum continues, this level represents the next logical resistance where sellers might reappear
The structure suggests Stellar could be entering the early phase of a bullish leg, assuming the breakout zone remains intact.
What's Fueling the Move
XLM's technical rebound isn't happening in isolation. The broader altcoin market has been showing signs of life, driven by improving sentiment toward mid-cap tokens. Stellar's ongoing work in cross-border payment infrastructure and its expanding network of partnerships are adding fundamental support to the technical picture. Meanwhile, traders who specialize in pattern-based setups have been positioning around this wedge breakout, adding buying pressure at key levels.
The immediate focus is simple: can Stellar hold above the $0.39–$0.40 range? If yes, the path toward $0.52 becomes increasingly viable. If not, a retreat back to the $0.35 support area would likely be the next chapter. For now, the technical backdrop favors the bulls, but confirmation will come from how price behaves over the coming sessions.
Saad Ullah
