☝️

XLM could see a 40% gain following a rebound from a key level, with potential to hit a new local high in the coming weeks, according to Martinez. This bullish outlook stems from the descending channel pattern observed on XLM's daily chart. A descending channel is characterized by two downward-sloping trendlines—connecting lower highs and lows—that act as resistance (top boundary) and support (lower boundary).



Typically, the price remains within this channel, but a breakout can signify a trend reversal, often shifting from bearish to bullish. $XLM has been declining since November 2024 but recently rebounded from its lower boundary. It reached support around $0.23 in early March and is now heading toward the midline at $0.30. If the trend continues, Stellar could hit the upper boundary line of $0.38, marking a 40% rise from its current market price.

Currently, XLM is trading at $0.27, up 0.83% in the last 24 hours. However, despite this recovery, the cryptocurrency is still down 0.76% over the past week and has dropped 17.25% in the last month. Stellar was last seen at $0.38 in early February before its decline to $0.23.
#XLM #BinanceAlphaAlert #MarketRebound