📊 Stellar (XLM) is approaching a breakout like Ripple (XRP)! 🚀
XLM's daily chart shows the formation of a strong technical pattern known as Inverse Head and Shoulders, which is a classic pattern that may indicate a strong bullish reversal.
📍 Pattern details:
✅ Left shoulder: formed since January 2025.
✅ Head: deep drop at the end of May.
✅ Right shoulder: gradually forming since August.
💵 The current price is at $0.452, very close to the strong resistance level of $0.50 (neckline), and breaking it with a strong daily close and high trading volume could open the door for significant gains.
🎯 Potential targets after the breakout based on Fibonacci levels:
First target: $0.71 (1.618 extension).
Second target: $0.77 (1.786 extension).
⚠️ In case of failure to break the resistance: the price may return to test $0.40 or even $0.36 before attempting again.
💡 Note: The current movement of XLM resembles what XRP did earlier this year, as it broke the neckline and achieved gains of several percentage points.
📌 Discussion question:
Do you think XLM will replicate XRP's scenario and achieve a strong leap, or will we witness a downward retracement before any rise? 🤔
#XLM #Stellar #Technical_Analysis #Cryptocurrencies #Investment #Trading