Stellar Eyes 15 Percent Price Swing as Chart Pattern Tightens on Hourly Timeframe

Stellar (XLM) may be on the verge of a significant price move as market activity signals growing pressure on the asset. A triangle pattern is currently forming on the XLM/USDT hourly chart, pointing to an impending 15 percent swing.

According to crypto analyst Ali, the pattern reflects a classic setup that often leads to a sharp breakout. As the range of XLM price action narrows, buyers and sellers appear locked in a consolidation battle.

At the time of reporting, Stellar was trading at $0.24, showing a 0.14 percent increase over the past 24 hours. The asset began its recovery on April 7 after dropping to a low of $0.2 and has gradually reclaimed ground since then.

XLM reached an intraday high of $0.252 during early Sunday trading, continuing the positive momentum from earlier in the week. However, price action remains confined within the triangle formation, suggesting that the next move could be swift and directional.

Also Read: Stellar (XLM) Surges After Surviving Sell-Off, Eyes Major Breakout Ahead

Key Levels Could Dictate Direction of Upcoming Move

The daily 50 and 200 moving averages at $0.273 and $0.291 remain crucial to watch as XLM tests its current resistance. A successful close above both averages could pave the way for an extended rally toward the $0.375 range.

Such an upward climb will prove a complete recovery from April 1st prices while demonstrating improving market optimism. The asset may drop back to $0.2 if it fails to surpass resistance.

The triangle shape creates potential entry points since price movements depend on general market trends while reflecting trader opinions. Traders follow market volume data closely since these statistics tend to validate breakthroughs.

General trends within the crypto market can affect how this period of stabilization unfolds. If market participants increase their purchases of leading assets it may create an environment where Stellar could validate its upward price movement.

Conversely, if market conditions worsen, XLM could see a reversal, pushing prices lower as traders exit risk. A move below current support levels would likely erase recent gains and reset the recovery momentum.

Conclusion

With Stellar nearing the apex of a tightening triangle pattern, traders are preparing for a decisive move. The coming hours could determine whether XLM advances toward recovery highs or faces renewed downward pressure.

Also Read: XRP vs XLM Battle Heats Up: McCaleb Tried to Crash XRP, Reports Revealed

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