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Stellar’s XLM price dropped by almost 8% in the last 24-hours, nonetheless technicals showed some bullish reversal signs. Targets of $0.5666, $0.6242, and $1 are in focus as traders watch key support at $0.40 to sustain the upward momentum. Analysts point to strong technical patterns and growing blockchain adoption as driving forces behind XLM’s rally. XLM Price Technical Analysis from Market Analysts According to popular crypto analyst VipRoseTr, the breakout from a falling wedge is a critical point for XLM’s price action. According to the analyst, the $0.40 level is a good entry for buying with potential targets at $0.5666, $0.6242, and $1. VipRoseTr says that the setup is a bullish continuation, meaning that a breakout of the $0.45 level will signal the continuation of the upward move. Other market analysts concur with this view, noting that if the trend continues, XLM may reach its 52-week high. They note that the breakout matches the broader market mood that has been bullish on large-cap alts, particularly those that can be used in the real world like Stellar. XLM Price Chart: Bullish Flag Formation The XLM/USDT 4-hour chart showcases a bullish flag pattern, a reliable continuation signal. – Advertisement – 1-day XLM trading chart | Source: Tradingview This pattern consists of a sharp upward movement, known as the flagpole, followed by a consolidation phase between two downward-sloping trendlines. The setup suggests that once consolidation ends, the price is likely to break out in the direction of the previous trend. The chart projects $0.60 as the next target based on the flagpole’s height. Also, the RSI at 46.50 is turning upward from the neutral zone, pointing to stronger buying interests. These signals indicate high chances of further upside if price pierces through the upper boundary of the flag. XLM Coin Key Support and…