Stellar's native cryptocurrency, XLM, is showing a strong technical pattern on its daily chart that could signal a major price rally. Analysts have identified an "almost perfect inverse head and shoulders" pattern, a bullish formation often seen as a precursor to significant upward price movement. The left shoulder of this pattern was formed in January, followed by the head in late May, with the right shoulder developing since August. This structural development has caught the attention of traders and analysts who believe XLM could be on the verge of an XRP-style price increase.

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<h2>Key Resistance Levels and Price Targets</h2>
The price of <a href="https://www.cryptoknowmics.com/news/stellar-xlm-at-risk-of-crash-after-losing-key-10-day-support/">XLM</a> is currently hovering just below a critical <b>$0.50 neckline</b>, a level that technical analysts view as the gateway to substantial growth. A successful and sustained break above this resistance, particularly with strong trading volume, is expected to trigger a sharp price increase. According to Fibonacci extension levels, a move past the neckline could propel XLM towards initial price targets of <b>$0.71 and $0.77</b>. Conversely, if the token fails to break through the $0.50 resistance, it could see a retest of lower support levels at $0.40 or even $0.36.

Stellar (XLM) Displays Bullish Signal with Inverse Head and Shoulders Pattern

Stellar's XLM token forms a bullish inverse head and shoulders pattern, with analysts targeting a potential price break above $0.50.

Stellar (XLM) Displays Bullish Signal with Inverse Head and Shoulders Pattern

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