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Can Stellar Break Out? – Mapping XLM’s Road to $0.51
Stellar (XLM) has been consolidating within a bullish flag on the daily chart, but will it be able to break above this resistance and target $0.51?
According to recent on-chain metrics, Stellar is flashing mixed signals as its price action remains uncertain. Despite a short-term bearish market sentiment, XLM’s network growth and total value locked (TVL) have shown steady growth since late 2024.
XLM has been trading inside a bull flag that could be a continuation pattern of its previous bullish momentum. The altcoin is currently facing resistance at the $0.35-$0.40 key zone, leading to price consolidation within the $0.28-$0.30 support zone.
Solberg Invest, formerly known as Twitter, has highlighted the possibility of XLM’s breakout above this resistance if it faces high buying pressure, which could result in a target of $0.51, a previous resistance level.
On-chain data shows steady growth in network accounts and TVL since late 2024, contradicting its short-term bearish market sentiment. The EMA 200 at $0.2428, based on TradingView data, indicates the altcoin’s long-term strength.
In addition to this, the Long-Short Ratio stood at 2.31 in a 24-hour timeframe and has grown to 2.41 in the 4-hour timeframe, indicating that investors have been buying XLM.
A monthly indicator report suggests a buy signal for Stellar despite a 2.63% decrease in Open Interest over the last 24 hours according to Coinalyze data.
Source: ambcrypto.com
