Stellar XLM price has been trading inside an uptrend for the past week and had a significant price breakout above a key pattern level. The digital asset aims for new highs with a very weak resistance level ahead.

On the 4-hour chart, Stellar price formed an ascending triangle pattern from which it had a breakout several hours ago. The XLM price target is set at $0.74 and Steller seems to have basically no resistance ahead.

Stellar XLM price on the way to $0.74

Additionally, on the 1-hour chart, the Stellar price also formed an ascending broadening wedge pattern and has bounced off the 50 SMA support at a price of $0.54. A breakout above the upper boundary at $0.576 can send the XLM to a high of $0.633, adding credence to the overall bullish outlook.

However, it is worth pointing out that the TD Sequential indicator has presented a  green ‘8’ candlestick pattern on the 12-hour chart and another one on the daily chart. These two candlesticks patterns can transform into sell signals.

Confirmation of both signals can send Stellar XLM price down to the 50 SMA at $0.53 on the 12-hour chart and even toward the 100 SMA at a price of $0.475 on the daily chart.

VeChain price yet to price in a new eNFT ecosystem

Chiliz CHZ price eyes higher high