• Stellar (XLM) shows renewed strength as bulls eye a potential rally toward the $2 target after a key breakout.
• Analyst ChartNerd highlights XLM’s 3-month 20 EMA support as a strong launchpad signal for a major upward move.
• Analyst identifies $0.413 as the main resistance, with $0.371–$0.397 acting as short-term safety levels.

Stellar (XLM) is exhibiting renewed resilience in the crypto market with rising momentum towards its recent price activity. The XLM is gaining attention from analysts who think it may prepare for the long term for that much larger move higher in the weeks to follow.

At press time, Stellar is trading at $0.3998, trading volume is 439.79 million and a market capitalization is $12.88 billion. XLM has increased by 1.11% in the last 24 hours, indicating a growing, slow, and continuous increase in buying interest.

Stellar (XLM) Readies For Major Surge

Popular crypto analyst ChartNerd noticed that XLM recently made its 3-month 20 EMA (Exponential Moving Average) support level in Q3, something that is usually taken for a potential rally kick-off signal.

The analyst termed that “the perfect setup for a launchpad,” implying that Stellar is potentially building up for its huge breakout. ChartNerd’s Fibonacci targets for XLM could vary from $2 to $8.

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Stellar XLM Holds Strong Targets Bullish Breakout

In this analysis, another analyst, More Crypto Online, highlighted that currently, the level of $0.413 serves as a primary resistance area. The analyst stated that another high is essential to form a five-wave structure within a leading diagonal, identifying what he calls the “blue scenario.”

In the short term or “micro,” support levels are located in the region of $0.371 and $0.397 and serve as a safety level in case of a small retreat of the price.

Although October was not an easy month for the majority of the altcoins, which had been weaker than Bitcoin in the previous week, XLM is still refusing to budge. Analysts think holding ground above these key levels may set the tone for another bull push, potentially affirming the beginning of a more positive bull phase for Stellar.

If XLM can cross the $0.413 barrier, it may pave the path for new highs, potentially positioning Stellar as one of the season’s highlight performers.

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