Stellar (XLM) has recently broken out of a five-month downtrend, sparking analyst predictions of a potential 30% rally. With confirmed bullish signals, the cryptocurrency aims to surge toward new resistance levels, possibly mirroring its 2021 performance.
Key Breakout Targets $0.39 Resistance
Following a late-April market recovery, XLM reclaimed the $0.29–$0.30 demand zone, marking its first retest since March 2024. Analyst Ali Martinez identified a two-month inverse head-and-shoulders pattern, a bullish reversal indicator:
- Neckline: $0.29 (now reclaimed).
- Price Target: $0.39 (30% upside).
👉 Why Stellar’s breakout could mirror 2021 gains
Historical Demand Zone Could Fuel Rally
Rekt Capital emphasized XLM’s multi-channel downtrend breakout, noting:
- Critical Support Area: $0.27–$0.29 ("historical demand zone").
Past Performance:
- 2021: Rally to $0.80 after reclaiming this zone.
- ATH (2018): $0.87 following a similar breakout.
"A weekly close above $0.29 could propel XLM toward $0.52–$0.70." — Rekt Capital
Near-Term Resistance Levels
Analyst CW warns of two key selling walls:
- $0.34–$0.38 (moderate resistance).
- $0.47–$0.70 (strong supply zone).
Current Status
- Price: $0.296 (+2% daily).
- Next Steps: Confirm $0.30 as support for sustained upward momentum.
FAQ
Q: What’s driving Stellar’s breakout?
A: A combination of bullish chart patterns (inverse H&S) and reclaiming key historical support levels.
Q: How high could XLM go?
A: Short-term target: $0.39. Long-term: $0.52–$0.70 if resistance breaks.
Q: Is this similar to 2021’s rally?
A: Yes—reclaiming the $0.27–$0.29 zone preceded major gains last cycle.
👉 Tracking XLM’s breakout? Monitor these levels
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