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Stellar aims for $0.74 with practically no barriers ahead

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

Stellar price on the way to $0.74

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

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XLM/USD 4-hour chart

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

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XLM/USD 1-hour chart

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

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XLM Sell Signals

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