Stellar (XLM) price has broken above its descending trendline resistance, signaling a potential bullish reversal. Currently trading around $0.40, XLM is testing the critical $0.41 resistance level, which aligns with the 0.382 Fibonacci retracement and the neckline of a bullish double-bottom pattern formed between $0.34–$0.35.
A confirmed daily close above $0.41 could trigger a breakout toward $0.48, the 0.786 Fib level, with some analysts eyeing $0.50–$0.56 as mid-term targets. However, rejection at this level might lead to a retest of support at $0.38 or a fall back to the $0.34–$0.35 demand zone, invalidating the bullish structure.
Fundamentally, XLM has gained momentum from recent integrations, including full support in Bitcoin.com Wallet for DeFi features like swaps and yield farming, and LOAN Protocol enabling instant lending and borrowing with token incentives. Institutionally, the Hashdex Nasdaq Crypto Index US ETF now includes XLM, and Grayscale has filed for a spot Stellar ETF, potentially boosting accessibility.
Technically, XLM surged 10% in the past 24 hours with trading volume up 130% to $499 million, breaking a falling wedge pattern. Historical data shows October has been positive for crypto in 10 of the last 12 years, fueling optimism. Yet, caution is advised as the Supertrend indicator remains bearish and ADX at 18 indicates weak momentum. Liquidation levels are concentrated at $0.3809 and $0.4129, with long positions outweighing shorts, reflecting a bullish bias.
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