Veteran trader Peter Brandt has identified a bullish symmetrical triangle pattern in Stellar’s (XLM) price chart, signaling potential for a breakout toward $1.51. The technical formation highlights renewed strength in XLM’s market position amid broader crypto skepticism.
XLM has recently outperformed XRP and ranks as the 16th-largest cryptocurrency by market capitalization, surpassing assets including Chainlink (LINK) and Hedera (HBAR). Notably, Stellar outpaced XRP during July’s market rally, demonstrating relative resilience and competitive momentum.
Brandt maintains caution toward the broader cryptocurrency landscape, estimating 95% of digital tokens will ultimately lose value. Despite this outlook, he cites XLM’s technical structure and recent performance as compelling exceptions with significant upside potential.
The symmetrical triangle pattern indicates XLM trades near a critical breakout threshold. A confirmed upward breach could trigger a measured move targeting $1.51, presenting a potential opportunity in an otherwise speculative asset class.
This analysis underscores XLM’s emergence as a standout asset in Brandt’s technical evaluation, contrasting with his predominantly bearish stance on the wider market.