Stellar (XLM) is consolidating within a descending channel on its chart, an analyst stated, signaling a potential bullish breakout toward $0.45. Technical indicators, including a MACD bullish crossover, point to weakening selling pressure. Concurrently, Bitget Wallet announced its integration with the Stellar network to enable faster, low-cost global payments.
The cryptocurrency Stellar (XLM) is currently trading within a defined descending channel on its three-day chart. According to a crypto analyst, this pattern reflects a consolidation phase where price stabilization and accumulation are occurring.
Sellers show diminishing strength, which suggests the market may be preparing for a shift. Traders are reportedly watching for signs of a bullish breakout that could target higher resistance levels.
If buying pressure intensifies, XLM could aim for $0.45 as a key milestone. Technical indicators show the structural setup exists for a strong upward move if bulls step in decisively.
This accumulation phase positions XLM for a potential surge. It offers traders a strategic opportunity to capitalize on any emerging upward momentum.
According to chart data, Stellar indicates a transition from a sharp downtrend to stabilization. The price is moving near the baseline of the Bollinger Bands at approximately $0.16.
Narrowing bands suggest a volatility squeeze is developing, pointing to an imminent breakout. The MACD indicator shows a bullish crossover, signaling that selling pressure may be exhausted.
However, for a trend reversal, the price needs to move and sustain above the $0.17 resistance level. Attracting new buyers would be crucial for this move.
Separately, Bitget Wallet announced a partnership with Stellar on Thursday, March 12. The Stellar network will be integrated as part of Bitget Wallet’s upcoming On-Chain Payments Matrix initiative.
The partnership aims to leverage Stellar’s blockchain settlement infrastructure. This is expected to result in faster on-chain settlements and an improved fiat off-ramp experience for users.
Bitget Wallet stated this will increase its coverage in crypto card payments, QR code transactions, and direct bank transfers globally. “With Stellar’s settlement infra, expect faster payments, transfers & offramps,” the wallet’s official account posted.
The low-cost and high-speed network of Stellar is intended to improve usability in bridging crypto with real-world payments. The partnership highlights a commitment to making cryptocurrencies usable in everyday financial activities.
