The digital asset is trading just above a critical support level that must be held. In the long term, Stellar bulls still have the upper hand, as XLM remains in a huge uptrend. A bear flag on the 1-hour chart could pose some problems for Stellar in the short term Stellar has enjoyed an amazing rally since the beginning of 2021 and hit an all-time high at $0.69 on April 14. The digital asset must hold a crucial support level to continue with the uptrend and reach new highs. XLM price must defend this significant trendline to see a new leg up XLM is trading at $0.625 at the time of writing, right above the 25 four-hour EMA, and a trendline formed since April 9. Both converge at $0.61, which is the critical point that bulls must hold. XLM/USD 4-hour chart A rebound from this crucial support should drive XLM price up to its previous high of $0.69. A breakout above this point will push Stellar toward the 123.6% Fibonacci level at $0.759 and even as high as $0.81 in the longer term. XLM/USD 1-hour chart However, losing this critical level would also validate a bear flag formed on the 1-hour chart. A breakdown of this flag has a price target of $0.53, but XLM bears have other targets before that at $0.58, a low established on April 14 and $0.56, formed on April 12. The lack of trading volume in the past 24 hours indicates that XLM is on the verge of a significant move. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Turkey: CBRT leaves policy rate unchanged at 19% as expected FX Street 1 year The digital asset is trading just above a critical support level that must be held. In the long term, Stellar bulls still have the upper hand, as XLM remains in a huge uptrend. A bear flag on the 1-hour chart could pose some problems for Stellar in the short term Stellar has enjoyed an amazing rally since the beginning of 2021 and hit an all-time high at $0.69 on April 14. The digital asset must hold a crucial support level to continue with the uptrend and reach new highs. XLM price must defend this significant trendline to see a new… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.