Stellar (XLM) has been consolidating since late November 2024, leading to several lower highs and suggesting profit-taking. However, between December 9 and January 11, the price action formed an inverse head-and-shoulders setup. This pattern forecasts that XLM could rally shortly.
Stellar (XLM)’s Bullish Pattern Signals Price Could Shoot 30%
The four-hour chart shows that Stellar set up three distinctive swing lows in the past two months, leading to an inverse head-and-shoulders pattern. This technical setup signals a reversal of the downtrend and forecasts a 31% move to $0.612. The target is obtained by measuring the head’s depth of 31% and adding it to the neckline at $0.466.
Overall, the outlook for XLM looks bullish as it overcame the $0.414 resistance level and flipped it into a support floor. This bullish development foreshadows the setup’s breakout rally.
For now, XLM should climb 10% to retest the neckline. Only overcoming this hurdle will confirm a breakout from the inve
We współpracy z: https://coingape.com/markets/stellar-xlm-price-analysis-for-january-11/
