Stellar (XLM) has recently shown the potential for a bullish flag pattern, and analysts believe its price may be on the verge of a breakout. According to market analyst Ali Martinez, XLM's price chart has presented a typical bullish flag signal, which often indicates a consolidation phase following a strong upward movement, suggesting that once the consolidation phase ends, the price is expected to continue rising.

Currently, XLM's price is approximately $0.3563, having risen by 0.8% in the last 24 hours. Although XLM's price briefly reached a daily high of $0.365, its recent fluctuations remain around $0.36, and the market's bullish sentiment needs to strengthen further. If it breaks through the current key resistance level of $0.36, XLM's price is expected to continue rising, with a target price of $1.8, indicating a potential increase of 405%.

XLM has experienced significant fluctuations over the past few months, having undergone a sharp decline since its high of $0.79. However, the recent price rebound and a weekly increase of 10.8% have pushed XLM's market cap above $10.9 billion, making it the 12th largest cryptocurrency. As the Stellar ecosystem continues to develop, particularly with the introduction of Soroban smart contracts, the demand for XLM is expected to grow further.

Stellar has been a leader in blockchain payment protocols, attracting global merchants with its efficiency and low costs. Recent advancements in the DeFi space have also injected new momentum into XLM, as the total value locked (TVL) in decentralized finance has reached $62.96 million, demonstrating Stellar's potential in the decentralized application sector.

Overall, while the challenge of breaking the target price of $1.8 is significant, XLM may experience more robust growth in the coming months with the continued expansion of the Stellar ecosystem.