The price of Stellar (XLM) has fallen by 3.6% over the past two days and is currently at $0.3988. The crypto is currently within a symmetrical triangle pattern on the price chart, indicating a potential breakout to the upside if resistance at $0.49 is broken. If this occurs, XLM could reach a technical target of $0.84, which is 110% above its current price. However, the price may face resistance at $0.63 before further upward movement. Technical indicators such as the Relative Strength Index and Moving Average Convergence Divergence need to show positive signals for the upside breakout to occur. On the other hand, if XLM fails to hold above key support levels, a bearish scenario could unfold with a potential downward move towards a December 20 low of $0.31. In other news, Stellar validators have proposed an upgrade to enhance the functionality of the ledger.



Other News from Today