XLM Price Breaks 9-Month Descending Triangle, $0.30 Next Target
XLM price broke a nine-month descending triangle, targeting $0.30, coinciding with Stellar's Protocol 26 testnet launch.Summary
Stellar (XLM) has successfully broken above a nine-month descending triangle pattern, a significant technical development that had capped its price since July 2025. This breakout, occurring on April 16, saw XLM trading near $0.18 after a 13% weekly increase. The technical event aligns with the launch of the Protocol 26 Yardstick testnet, providing a fundamental boost. Daily chart analysis confirms the triangle breakout, supported by the RSI and MACD indicators showing bullish momentum. Key resistance levels are identified at $0.20, $0.25, and $0.30, with a sustained move above the latter completing the pattern's measured target. However, the 4-hour chart presents near-term caution, showing XLM within a horizontal channel and exhibiting early signs of bearish divergence on the RSI, with contracting volume. Futures open interest remains modest, suggesting a reduced risk of a long squeeze and indicating healthy participation without excess leverage. The bull case hinges on the multi-month pattern break, daily momentum confirmation, and supportive fundamentals, with a sustained move above $0.20 potentially leading to $0.25 and then $0.30. A failure to hold the breakout and a close below $0.17 would invalidate the bullish setup.
(Source：BeInCrypto)