Stellar (XLM) Breakout Eyes 30% Rally – Will It Repeat Last Cycle’s Playbook?
Summary
Stellar (XLM) has broken out of a five-month downtrend, signaling a potential rally. The cryptocurrency has retested the $0.30 mark for the first time since March after dropping 68% from its November 2024 high of $0.63 to a low of $0.20. Following a market recovery, XLM closed above $0.28, reclaiming the $0.29 resistance and forming a bullish inverse head and shoulders pattern. Analysts suggest a potential 30% rally toward the $0.39 resistance. Reclaiming the $0.27-$0.29 area is crucial for support, historically leading to rallies toward $0.37-$0.40. If XLM repeats past performance, it could challenge the $0.52 level over time. Current trading price is $0.296, reflecting a 2% daily increase.
