#stellar ($XLM ) has started to regain momentum despite the long-term suppressed price action. Technical indicators and chart formations may indicate that this altcoin is preparing for a major rise. In particular, the reaction purchases from the $ 0.22-0.24 band and the positioning in the falling wedge formation indicate that the bulls may come back to the stage.

🔍 $ 0.22-0.24 Range: Critical Demand Zone

When the daily chart is examined, it is seen that #XLM has found strong support in the $ 0.22-0.24 region despite the intense selling pressure in recent weeks. This region has served as both a bottom and a bounce region in the past. Currently, the price has bounced off this support and rose to $ 0.2462.

This rise is considered one of the first technical signals that the bears are starting to lose control and the bulls are gaining strength again.

📈 Weekly Chart: Bullish Base with Falling Wedge Formation

When viewed from a broader perspective on the weekly charts, XLM is moving within a classic bullish descending wedge formation. These formations usually result in sharp upward breakouts after falling prices are squeezed and become volumeless.

The bottom of the formation also coincides with the 0.786 Fibonacci retracement level. This level has been a strong bounce area for many altcoins in the past. The fact that XLM finds support in this area indicates that it could be on the verge of a potential major breakout.

🎯 Potential Targets: $0.4584 – $0.5610 – $0.6719

If the bull scenario continues, XLM has three main targets ahead of it:

$0.4584: First Fibonacci target and psychological resistance.

$0.5610: The level where strong sales have come in the past.

$0.6719: Correction area of the 2021 bull season.

If these levels are reached, XLM will have increased by over 170% of its current value. This offers a potentially strong profit opportunity for investors.

⚠ Critical Level: Closing Below $0.20 Scenario

Despite the bullish scenario, it is necessary not to ignore the downside possibility. If XLM falls below $0.20 at the weekly close, this formation may be considered invalid. In this case, selling pressure may increase again and the price may test lower levels.

On the other hand, persistence above $0.25 will confirm the bullish scenario and will be considered a strong signal that a new uptrend has begun.

🔼 Conclusion: Is Stellar on the Verge of a Rise?

Stellar (XLM) is in a technically remarkable position at a time when the crypto market is entering a recovery process. The descending wedge formation, solid support zone and critical Fibonacci levels may indicate that XLM is preparing to explode.

Especially if the bulls manage to break above the $0.25 level, Stellar’s targets include levels with increases of over 100%. Technically, it is an asset with high potential that should be watched cautiously.

📌 Technical Levels to Follow:

Support: $0.24 / $0.22 / $0.20

Resistance: $0.25 / $0.458 / $0.561 / $0.6719

💡 Note: Remember to do your own research before making any investment decisions. This analysis does not constitute any investment advice.

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