Stellar Price Grinds Through Ascending Support Line

Stellar's price has been testing a multi-year ascending support line that has repeatedly marked major bottoms, according to technical analyst ChartNerd.

The long-term chart shows Stellar sitting inside what appears to be the final leg of a corrective structure, labeled as wave 5, after a series of higher lows along a blue ascending trendline that dates back years.

This trend-line previously acted as a springboard in 2020, 2023, and 2024, with each time price tagging it and holding leading to a meaningful expansion.

ChartNerd highlights several constructive elements, including XLM's sweep of recent lows and the potential formation of a double-bottom structure near the rising support.