Stellar’s The move outperformed the broader crypto market by 4.86%, bringing XLM closer to the 5% relative strength threshold that often marks the start of major breakout trends.
Trading activity intensified during European hours, with volume peaking at 68.52 million shares, 78% higher than its 24-hour moving average. Strong inflows confirmed a clear break of the $0.3020 resistance level, as XLM consolidated gains between $0.3020 and $0.3100, establishing firm support around $0.3058.
Analysts are closely monitoring XLM’s approach to the upper boundary of a seven-year symmetrical triangle pattern. Accredited market technician Aksel Kibar notes that price compression since 2018 has created a pattern with significant breakout potential, projecting a possible move towards $1.52, representing a 446% upside from current prices if the token breaks out of its multi-year consolidation.
For traders, the focus now is on whether XLM can maintain momentum above resistance and confirm a long-term breakout. The increase in institutional participation at the $0.3020 level and consistent buying during pullbacks signals strengthening demand. Combined with the token’s clear outperformance relative to the market, these factors suggest that XLM could be on the verge of a sustained bullish phase.
Key Technical Levels Signal Shifting Dynamics for XLM
Support/Resistance: Main support established at $0.3058 with several successful tests; resistance formed at session high $0.3118 with consolidation between $0.3020 and $0.3100
Volume analysis: The peak activity of 68.52 million shares (78% above the 24-hour SMA) occurred at 09:00, validating the breakout of the $0.3020 resistance level.
Chart templates: A double-wave rally pattern emerged with an upward trend showing higher lows at $0.2790, $0.2845, and $0.2915 over a total range of 11.6%.
Targets and risk/reward: Immediate resistance area between $0.3045 and $0.3050 with a longer-term triangle breakout target at $1.52, representing 446% upside potential if the seven-year trend resolves to the upside.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
