Lorenzo Stroe
Independent Analyst
- 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/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.
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