This Chart Pattern May Encourage Stellar Price To Outperform Bitcoin

While the crypto market is still struggling with uncertainty, the XLM buyers show their commitment with a bullish breakout from the descending triangle pattern. Completing this pattern should bring a strong directional rally for coin holders. However, the $0.13 mark remains a formidable barrier to Stellar price recovery,

Key points: 

• A 20-and-100-day EMA nearing a bullish crossover could accelerate the ongoing bull run
• A bullish breakout from $0.13 is needed to confirm the Stellar price recovery
• The intraday trading volume in the XLM is $270.5 Million, indicating a 137% gain.

Source- Tradingview

The Stellar price has followed a descending triangle pattern for the past four months. The altcoin has tested the pattern’s downsloping trendline and the $0.1 neckline support multiple times indicates the traders are actively responding to these levels.

Though this price pattern encourages the continuation of the prevailing downtrend once the prices break the support neckline. However, in rare cases, the price may invalidate this bearish if the buyers could breach the ov