Saad Ullah
Stellar (XLM) is building bullish momentum after carving out a textbook bull flag pattern on the daily chart, hinting that traders might soon witness a push toward the $0.75 mark if the current setup plays out as expected.
Strong Technical Setup on XLM
According to recent analysis from trader STEPH IS CRYPTO, XLM's chart tells an interesting story. The token experienced a sharp rally back in July, followed by a consolidation phase within a downward-sloping channel.
This cooling-off period, commonly known as a bull flag, often sets the stage for another upward leg. XLM is now breaking above the upper boundary of this channel, which strengthens the bullish case and supports expectations for a continuation rally.
Chart Analysis: Key Levels in Play
The chart reveals several critical factors worth watching: the $0.35 zone serves as immediate support where buyers have historically shown up, price action climbing above $0.40 suggests momentum is shifting in favor of the bulls, and the projected move from the bull flag pattern points to a target near $0.75 - representing roughly 80% upside from current levels.
Market Context
Stellar's price movement is happening against a backdrop of improving sentiment across the crypto market, with altcoins displaying renewed strength while Bitcoin holds steady. If XLM manages to hold above $0.40, we could see increased volume and positive sentiment driving the next rally phase forward.
Saad Ullah
