In a recent post on X, Peter Brandt shared a long-term XLM chart to explain a breakout formation. However, he noted that the token must stay above its April lows and well above the $1 price.
Brandt pointed out an inverted head and shoulders pattern visible on the monthly chart. He also emphasized the importance of the $1 resistance. He indicated that XLM would remain within a range until that level was broken.
Market sentiment around Stellar has shifted quickly. Brandt's tweet suggests that the price structure of the coin is more bullish than that of Ethereum, Solana, and XRP at this moment. Currently, the price of XLM has risen nearly 60% in the last 7 days and is trading at $0.4767.
Brandt's prediction is notable, given his recent forecast about the steady price increase of XRP. Since then, the price of XRP has maintained an upward trend. It has gained almost 33% in the last seven days.
In another post on X, prominent analyst Solberg Invest published a short-term outlook showing a strong rebound for XLM. The price of XLM has risen more than 80% recently and is trading at $0.4789. This movement broke a prolonged downtrend, turning $0.43 into a key support.
Solberg noted that the token's next target is $0.60, with potential for higher levels. The daily TradingView chart shared by the analyst shows a sudden price increase surpassing resistance zones.
Since early 2021, the Stellar token has not surpassed $1. Multiple attempts to reclaim it have also failed, strengthening the resistance zone. The price performance of Stellar now places it in the spotlight among altcoins.