Stellar (XLM) Shows Strong Bullish Momentum, Targets $0.45 and Beyond

Stellar (XLM) has shown strong bullish momentum, gaining 8.4% in the last 24 hours to reach $0.31926, according to recent market data. This sharp upward

Stellar’s (XLMslope:0.000000:0.000000:0.000000:0.000000) recent price surge has been nothing short of remarkable, with the altcoin gaining 8.4% in the last 24 hours to reach $0.31926 by the time of writing, according to recent market data.

This sharp upward move follows a confirmed breakout from a classic double bottom pattern, signaling a potential trend reversal after weeks of sideways consolidation.

On the 4-hour chart, XLM formed two clear low points, often referred to as ‘bottoms’, near the $0.22134 support level. These bottoms, which are Top 1 and Top 2 on the chart below, developed over the course of late March and April, forming a distinct ‘W’ shaped reversal pattern. The area around $0.30446 served as the neckline resistance, capping the upside multiple times before the recent breakout.

Stellar Turns Bullish, Targets $0.45 and Beyond

The successful breach of this neckline resistance has triggered fresh buying interest, pushing the price above the critical $0.30 zone. This technical breakout is significant, as double bottom formations are widely recognized bullish signals.

Now that XLM is holding above its former resistance, this level is expected to act as new support in the near term.

As Stellar's price rises, it faces immediate resistance at $0.35149 and $0.37213, both of which previously acted as supply zones during earlier rallies. If bullish momentum continues, the next upside targets lie at $0.45175 and $0.51397, key price levels that have not been seen since December 2024.

The Volume-Weighted Moving Average (VWMA) also supports the ongoing uptrend, with the 20-period VWMA turning upward as price action accelerates. While volume data is not shown on the chart, the price movement itself reflects strong demand and technical confirmation of the bullish breakout.

Stellar's breakout above the $0.30446 neckline marks a key turning point for the altcoin. With a confirmed double bottom pattern and rising momentum, XLM appears poised to challenge higher resistance levels in the coming days. Traders and investors should monitor price stability above the neckline to confirm the sustainability of this rally.