|

XLM Price Prediction: Stellar future is decided by these two key levels

  • On the 4-hour chart, Stellar price has formed a massive symmetrical triangle pattern.
  • XLM is on the verge of a colossal 45% move decided by two levels.
  • The digital asset will see a significant breakout or breakdown within the next three days.

XLM has been under a massive consolidation period since the beginning of February and it’s on the verge of a colossal 45% move. The trading volume of Stellar has dropped significantly which indicates that it is ready for the next transition.

Stellar price on the verge of a 45% move

On the 4-hour chart, the most critical pattern is the symmetrical triangle formed between the upper trendline at $0.43 and the lower boundary at $0.37. These are the two most important levels for XLM.

xlm price

XLM/USD 4-hour chart

A breakout above the upper resistance level at $0.43 would drive Stellar price towards $0.62, a new 2021-high. XLM is currently trading at $0.415, closer to a breakout than a breakdown, giving better odds to the bulls. 

On the other hand, if the resistance level at $0.43 rejects Stellar, the digital asset will fall towards the lower boundary at $0.37. A breakdown below this point should also push Stellar price by 45% down to $0.2.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

XRP retreats as ETF interest cools
Ripple (XRP) slides toward the short-term $1.10 support on Friday, as broader crypto market sentiment weighs on crypto assets. The sell-off mainly stems from fears of inflation in the United States (US) amid the ongoing war in the Middle East and rising Oil prices.
Crypto Today: Bitcoin, Ethereum, XRP pare losses as breakout potential builds
Bitcoin (BTC) is edging higher on Friday, albeit gradually, after reclaiming support above $65,000. Meanwhile, Ethereum (ETH) shows signs of stability near the immediate $1,900 hurdle, backed by mild capital inflows. Ripple (XRP), on the other hand, holds above the pivotal $1.10, with its upside structurally constrained below $1.15.
Bitcoin Weekly Forecast: BTC holds firm, but the $100 Oil threat could change the game
Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.
Crypto shrugs off a stronger Dollar
Cryptocurrencies have been affected by jitters in traditional financial markets, losing 0.8% of their market capitalisation over the past 24 hours to $2.23T, dipping to a low of $2.21T at the start of active trading in Asia.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game
Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.