In recent days, Stellar (XLM) has shown renewed strength thanks to a combination of technical and fundamental factors that may lead to a breakout above the $0.80 mark.
Bullish Flag Forms
A bullish flag pattern has emerged on XLM’s chart, indicating a continuation of the upward trend. This follows a strong rally from $0.22 to $0.46. The recent retracement held firm near the 0.786 Fibonacci level at $0.4126.
Technical and Macro Setup
According to a tweet from Scopuly, the bullish flag is positioned just above support, with upside momentum building. Technical indicators, such as higher lows over time, provide a solid foundation for potential growth.
Partnership with Visa
Visa has integrated Stellar into its global stablecoin settlement network, allowing XLM to conduct real-time transactions. This is a significant step towards wider adoption.
Considering the current technical indicators and significant partnerships, trader interest in XLM continues to rise, with a potential breakout above $0.50 pointing towards new highs.
