Is XLM Heading Toward $1.80? Key Levels to Watch for Price Surge

• Technical analysis shows XLM could break out soon, with the bullish flag pattern indicating an upward move.
• With support at $0.30051, XLM aims to breach $0.41806, paving the way for further price growth.
• A breakout above $0.36254 would boost XLM towards $1.80, but failure to clear resistance could lead to a decline.

Stellar (XLM) still remains bullish as technicals point to an upward move saying that Stellar could break out soon. The cryptocurrency is still on a bullish flag pattern, which, based on the technical implication of the formation, usually followed by a sharp move up after a consolidation. The flag pattern further signifies a further upswing, while analyst Ali Martinez highlighted that XLM could be on the cusp of a price jump.

Critical Price Barriers for XLM

XLM is trading at $0.3562, and has stabilized at the $0.30051 support  level. The cryptocurrency has established support and has remained at that price for now. This support level is very important for XLM’s behavior. As long as the price of XLM is above this level the cryptocurrency may continue to have a bullish run. The next significant level that Stellar may aim at is $0.41806 as it needs to be breached to encourage further gains.

Thus, if cryptocurrency manages to get through a $0.41806, the price is poised to test the $0.63661 level. From there, it could surge to as high as $1.80, a level higher than its current price. However, to open the way for this bullish formation, Stellar token must break above the important barrier of 0.36254$. Otherwise, the market situation might stay unpredictable, and traders have to wait for the further signal and its confirmation.

Bullish Momentum Confirmation

Thus, a confirmed breakout above the $0.36254 level would be enough to provide buy signals necessary for the further token price increase. This would give bulls confidence to drive the prices even higher. Until now, the market is still holding back, and hence the price is still ranging and may fluctuate in between the support and resistance levels. 

If the price of token fails to overcome the barriers around the supply zone, there could be a downfall. The lower level of interest lies at $0.23832, which means that pair’s value could potentially reach it to continue upswing. Any price below $0.30051 will imply that the market of this cryptocurrency is bearish. It may have a negative influence as it can depress the price of cryptocurrency, which could go down to the next support.

Currently, for XLM/USD it is in a sort of a range with the upper bound at $0.36254 and the lower bound at $0.30051. In this case for token to start having a bullish strength, it has to rise above the resistance and stabilize in this area. If the experiment is successful, coin will witness solid upsurge and hopefully achieve $1.80 figure. The near daily process is now critical in defining the actioning direction of Stellar token.