Stellar (XLM) stunned the market this week with a massive rally, posting a 100% gain in just days. The surge pushed XLM to $0.5048, marking its highest level in months. The explosive momentum has sparked fresh bullish sentiment across the altcoin market.
On July 14, Stellar broke its uptrend further when it gained 27% in a day, overcoming the crucial resistance at $0.50 and currently trading at $0.48. This marked a decisive breakout from the multi-month downtrend, which had confined the coin in a tight range. XLM’s current surge has raised eyebrows in both retail and institutional quarters.
Bullish chart patterns confirm major breakout
XLM recently printed seven consecutive bullish daily candles as well as four solid weekly closes. The rare technical convergence is a sure sign of maximum buying pressure and stirred speculations that Stellar is about to embark on a full-blown bull run. Traders are calling this one of the most powerful setups for the year.
Charting Guy revealed that the statement that Stellar’s weekly Supertrend recently switched to green. He also pointed out that the RSI for the currency is tracing an identical mythical 2017 curve, spiking to 90, crashing to 50, and again rising in momentum. The current weekly RSI is 70.
Despite the rally, there is cause for concern. The daily RSI is flashing overheating, which could lead to small pullbacks. However, most analysts argue the structure supports further growth. XLM is even being said to be among the best altcoins to buy on their way to 2025.
Analysts Eye $1 to $1.50 in Coming Months
Beyond its technical strength, Stellar’s breakout is a front-runner in the altcoin market. t’s a clear trend reversal, and rapid gains suggest the project is about to break out from consolidation after months of declines and sideways trading.
Influencer Joe Swanson predicts Stellar to reach $1–$1.50 in the coming months, aided by technical as well as market sentiment. With growing investor attention as well as rising social hype, XLM may still possess further room for growth, especially if broader market conditions remain favorable for altcoins.
