$XLM Stellar’s XLM has 'most bullish chart' in crypto, mirroring XRP price
During their bull runs, XLM and XRP often move in sync, with a high correlation coefficient typically topping 0.70. Will history repeat for Stellar?
Key takeaways:
XLM eyes a 35% breakout toward $0.63 as it tests an ascending triangle resistance.
A strong historical correlation with XRP suggests that XLM may continue rallying.
XLM
$0.4831
looks set for a 35% price rally, driven by a bullish continuation pattern and XRP’s
XRP
$3.50
recent surge.
XLM ascending triangle targets $0.63
XLM is consolidating within an ascending triangle, a classic bullish continuation setup characterized by rising lows and horizontal resistance.
The resistance level, near $0.52, has been tested multiple times since Tuesday, while the higher lows show increasing buying pressure.
A breakout above $0.52 could confirm the pattern and trigger a rally toward $0.63 by August, marking a 35% gain from the current price.
The upside target is derived by adding the triangle’s maximum height to the breakout point.
Momentum indicators also support the bullish case. The relative strength index (RSI) on the 4-hour chart remains below overbought levels, suggesting room for more upside.
XLM continues to hold above its 20-, 50-, and 200-4H exponential moving averages (EMAs), all of which now slope upward. This alignment adds strength to the short- and medium-term bullish outlook.
