XLM Holds Steady Near $0.45 As Inverse Head and Shoulders Forms Toward $0.77

XLM traded at $0.4489 with a 0.01% daily gain after an intraday high above $0.465.

Technical analysis shows an inverse head and shoulders pattern with a key breakout level at $0.50.

Fibonacci extensions indicate upside targets of $0.60, $0.70, and $0.77 if a breakout occurs.

Stellar, a decentralized, open-source blockchain network designed for fast, low-cost, and cross-border payments, has seen its native cryptocurrency Lumens (XLM) record a new positive trend. During today’s Asian trading session, the digital asset opened its market with a price value of $0.451, which ranged with higher lows before setting its base to the current levels

XLM Holds Gains After Hitting Intraday Peak Above $0.465

Tracking the ongoing price trend at the time of writing, CoinMarketCap data shows that XLM is trading at $0.4489, recording a 0.01% surge in the last 24 hours. The price opened near $0.4455 before climbing through midday, reaching peaks above $0.465 during early morning hours

Source: CoinMarketCap

After touching the session high, the price pulled back but kept levels above $0.455 for several hours. A decline followed, with short-term recoveries visible before a drop toward $0.448 near the current period. Intraday movements displayed multiple sharp rises and corrections, indicating active market participation. Trading volume reached $716.17 million in the past 24 hours, marking a 46.57% increase compared to the previous day’s activity.

Will This Print Push Market Prices to $0.7?

According to an observation by Ali Charts, it is notable that Stellar has hinted on an inverse head and shoulders formation, with the left shoulder forming near January levels. The head formed between April and June, marking the lowest point of the pattern below $0.25. The right shoulder developed in early August after a retracement from a sharp rally.

Source: X

A deeper view indicates that the price action recently tested the $0.50 resistance, aligning with the 1 Fib extension level. The asset is positioned between the 0.786 and 1 Fibonacci levels. Key retracement supports are observable at $0.40, $0.36, and $0.28, connected to the 0.618, 0.5, and 0.382 levels. If the $0.50 resistance level is broken, Fibonacci extension targets are set at $0.60, $0.70, and $0.77.

Additionally, the $0.60 level aligns with the 1.272 extension, $0.70 with the 1.618 extension, and $0.77 with the 1.786 extension. The XLM current market structure reflects a consolidation phase after the July rally, with price maintaining higher lows above the $0.40 region. The neckline of the pattern remains the critical breakout point, with bullish continuation levels clearly marked by the Fibonacci projections. This setup outlines potential upward price levels if momentum overcomes the key resistance zone.