Key Insights
- Stellar’s XLM has remained within a symmetrical triangle for over seven years, forming one of the longest consolidation patterns in crypto.
- A confirmed breakout above $0.62 could push XLM toward a technical target of $1.52, representing a 446% potential gain.
- XRP, which completed a similar pattern earlier this year, has entered a rectangle phase and could advance toward $6.18 upon breakout.
Stellar’s native token XLM has remained in one of the longest consolidation patterns in the cryptocurrency market. Chartered Market Technician Aksel Kibar observed that the token has been confined within a symmetrical triangle since 2018, showing consistent compression between lower highs and higher lows for more than seven years.
According to Kibar, every significant rally since 2018 has failed to break above the descending resistance trendline near $0.62. Meanwhile, long-term buyers have consistently protected the rising support trendline, which now stands close to the $0.10 level. This prolonged narrowing pattern has kept XLM’s price movements limited and cautious.
Key Resistance and Breakout Projection
Recent trading data shows that XLM has been fluctuating between $0.20 and $0.35, positioning it near the midpoint of its seven-year structure. Kibar explained that this extended consolidation has formed a setup that often precedes major market movements. A confirmed breakout above the $0.62 resistance could potentially complete the triangle formation and set a technical target near $1.52.
At the time of analysis, XLM was trading at $0.2781, marking a decline of 9.4 percent over the past week and 27% over the past month. Despite the current downturn, a successful breakout would represent an impressive 446 percent rise from its present level. However, until that breakout takes place, XLM remains within what Kibar terms a long-term symmetrical triangle consolidation, still trading nearly 70 percent below its all-time high of $0.9381 recorded in January 2018.
Comparative Outlook for XRP
Besides XLM, Kibar also shared insights on XRP, noting that it completed its symmetrical triangle earlier this year, which resulted in a rally exceeding 500 percent. Following that move, XRP has entered a rectangle consolidation phase. According to Kibar, if XRP breaks above the $3.34 mark, it could aim for a potential upside target near $6.18.
The extended consolidation in XLM underscores a critical juncture for long-term investors. Consequently, traders continue to monitor the structure closely, anticipating that a decisive move beyond the upper boundary could signal a shift in Stellar’s multi-year trading pattern.
