XLM Holds $0.4713 As Volume Hits $1.7B and Market Cap Climbs Amid Bullish Pennant Formation

XLM forms a bullish pennant on the 2-hour chart, holding above $0.4710

24-hour trading volume surged 21.7%, reaching $1.7 billion

Immediate resistance stands at $0.4809, while support holds at $0.4469

Stellar (XLM) continues to consolidate in a bullish pennant pattern on the 2-hour chart, holding well above $0.4710. XLM has gained 1.7% in the last 24 hours, persisting in an ascending slope within its technical pattern. Price action remains compressed as the pattern moves toward the apex. The structure has developed after a sharp rally beginning earlier in July, and market participants are eagerly awaiting a decisive move.

The XLM is currently ranging between these two, resistance at $0.4809 and support at $0.4469. The narrow 24 hour range indicates the low volatility scenario despite the higher trading activity. Positively, the asset has seen some buyer interest, as it remains above the support level of $0.4469. The price structure is intact despite near-term pullbacks, and the symmetrical formation has yet to break.

Volume Jumps 21.7% as Liquidity Builds Around Key Levels

The last 24 hours have seen a large trading volume boost to the XLM, which has gained 21.7% to reach 1.7 billion. This increase in volume accompanies a subsequent 1.78% increase in market capitalization, which stands at 14.64 billion. The increase in volume is also accompanied by the price moving above the support line on the pennant, and this could suggest that there is a rising interest in the market at existing prices.

Source: CoinMarketCap

Furthermore, the price action has stayed tightly aligned with the pattern's upper boundary. With volume increasing and price compressing, a breakout move remains technically possible. The market’s unlocked capitalization stands at $23.7 billion, giving context to the current valuation against potential future movement.

Pennant Structure Sets Up 40–45% Move Toward $0.66 Upon Breakout

Technical projections tied to the bullish pennant suggest that, in case of an upside breakout, XLM could target a rally of 40–45%. This would place the next significant price zone near $0.66, based on the pennant’s height. While no breakout has yet occurred, the pattern’s symmetry and prior price surge offer a clear roadmap if momentum strengthens.

As XLM continues to hover near the resistance zone at $0.4809, the short-term outlook depends on price behavior around the pennant's edge. Any strong momentum candle closing above the formation may initiate a rapid upward move. Until then, the $0.4469–$0.4809 range remains a critical area for observation.