Stellar (XLM) is currently trading within a well-defined descending channel on the 3-day chart. According to the crypto analyst Butterfly, this pattern reflects a consolidation phase, where price stabilizes after recent swings and accumulation quietly occurs. 

Sellers show diminishing strength, suggesting the market is preparing for a potential shift. Traders are watching closely for signs of a bullish breakout.

Source: Butterfly’s X Post

If buying pressure intensifies, XLM could target higher resistance levels, with $0.45 identified as a key milestone. Technical indicators indicate that once bulls step in decisively, Stellar has the structural setup for a strong upward move. 

This quiet accumulation phase positions XLM for a potential surge, offering traders a strategic opportunity to capitalize on the next upward momentum.

Also Read: Stellar (XLM) Stabilizes Near $0.152 as $0.166 Resistance Becomes Critical Breakout Level

XLM Technical Outlook Points to Improving Momentum

According to TradingView, Stellar (XLM) indicates a transition from a sharp downtrend to a stabilization phase. After dipping from the price point of $0.22, the price is currently moving close to the baseline of the Bollinger Bands at the price point of $0.16. 

Narrowing bands for the price of the asset are an indication that a volatility squeeze is developing, suggesting that a breakout in the price is expected soon.

Source: TradingView

The MACD indicator gives a bullish signal as the blue line crosses over the orange line. This indicates that the selling pressure is being exhausted, as shown by the rising green histogram bars. 

However, for the price to reverse the trend, the price needs to move and stay above the resistance level of 0.17 to attract new buyers.

Bitget Wallet Integrates Stellar for Global Payments

Apart from this improving momentum, Bitget Wallet partnered with Stellar on Thursday, March 12, incorporating the latter as part of its upcoming On-Chain Payments Matrix initiative. 

This partnership allows users to benefit from the use of the former’s blockchain settlement infrastructure, resulting in faster on-chain settlements and a better fiat off-ramp experience.

With this integration, Bitget Wallet will increase its coverage in crypto card payments, QR code transactions, and direct bank transfers globally. The low-cost and high-speed network of Stellar will improve usability in bridging crypto with real-world payments. 

The partnership highlights Bitget’s commitment to making cryptocurrencies usable in everyday life by providing global coverage and convenience, thus solidifying its place in the new on-chain payment ecosystem.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: XLM Prediction for March: Can Stellar Reach the $0.18 Target?