Stellar (XLM) has been drawing attention in the crypto market recently, with many experts speculating that the altcoin could be on the verge of a significant price breakout. XLM has shown signs of upward momentum, and if key resistance levels are broken, a surge toward $1.80 could be within reach.

Bullish Flag Formation Suggests Potential Upswing

XLM has been forming a bullish flag pattern, a popular technical chart formation that often signals a price increase. The price action has remained within a narrow range between $0.35 and $0.37, indicating consolidation and a potential buildup of momentum. This pattern suggests that after a period of consolidation, XLM could break out to the upside, which would position the cryptocurrency for an increase toward the $1.80 target.

For this bullish scenario to unfold, XLM must first break through resistance at $0.37, with subsequent key levels at $0.44 and $0.50. If the price manages to surpass these barriers, a significant rise could follow, bringing $1.80 into focus. Therefore, the coming days will be crucial in determining whether this breakout occurs and whether XLM can maintain its bullish momentum.

Social Metrics and Market Sentiment

The current social sentiment around XLM has shown a slight decline, with social dominance dropping to 0.28%. This suggests that investor attention in the altcoin is currently low, which could dampen short-term price movements. However, it’s important to note that social volume and dominance often react to price changes. As XLM begins to rise and break through key resistance levels, social media interest and discussions could pick up, potentially reigniting broader market enthusiasm for the cryptocurrency.

Historically, when social metrics increase, it often coincides with higher trading volumes and renewed investor interest. If XLM pushes higher and captures attention, its social volume could rise, further supporting the price increase.

Technical Indicators Point to Bullish Momentum

Technical indicators are aligning in favor of a potential price surge for XLM. At the time of writing, the Relative Strength Index (RSI) is sitting at 47.76, which indicates a neutral market. A move above the 50 mark would signal growing buying pressure, a key sign that XLM could be gearing up for an upward move. If this happens, it would reinforce the case for a breakout toward higher levels, including $1.80.

Moreover, the Moving Average Convergence Divergence (MACD) indicator has crossed above the Signal line, another bullish signal. This crossover suggests that buying momentum is building, which could lead to further price gains. These positive technical indicators point to the possibility that XLM is in a favorable position for growth in the near future.

Liquidation Heatmap Shows Opportunity for Breakout

The liquidation heatmap for XLM also offers some insight into potential price movements. A significant concentration of liquidations is present around the $0.36 level. While this may present a challenge for the price, it also indicates that if XLM manages to break through this level, it could trigger a wave of liquidations, pushing the price even higher. Liquidations often lead to increased volatility, which could act as a catalyst for a continued price surge.

This dynamic could fuel the momentum necessary for XLM to break past key resistance levels, and it highlights the potential for significant price movement in the coming days.

Conclusion: XLM’s Path to $1.80

XLM is showing promising signs of an impending breakout. The altcoin has formed a bullish flag pattern, indicating consolidation before a possible upward move. If XLM breaks through key resistance levels and continues to build momentum, the $1.80 target is achievable. Technical indicators, such as the RSI and MACD, are pointing to increased buying pressure, further supporting the case for a bullish rally.

While social metrics currently show subdued interest in XLM, this could change if the altcoin starts to rise, raising renewed enthusiasm in the market. Additionally, liquidation events could provide the necessary volatility to propel XLM’s price higher.

Overall, XLM has the potential for significant growth, and if it can maintain its upward momentum, the path to $1.80 may soon become a reality. However, as always, investors should stay alert to market movements and key levels in order to make informed decisions.