Stellar (XLM) and Ethena (ENA) Price Charts Indicate Bullish Potential

Rose Premium Signals has shared insights into the technical outlook for Stellar (XLM) and Ethena (ENA). They highlight bullish formations and price targets

Cryptocurrency signals provider Rose Premium Signals has highlighted bullish technical formations in Stellar (XLM) and Ethena (ENA) on February 21. The signals, shared via tweets, present potential trading opportunities with price targets and key support levels.

Stellar (XLM) Price Analysis: Rounded Bottom Formation

Stellar's price is currently trading at $0.2417, approaching a crucial support level at $0.2186, which could present an optimal entry zone if the bullish momentum continues, according to Rose Premium Signals.

The analysis of Stellar ( $XLM)#XLM The current price is approaching a crucial support level at $0.2186, making it an attractive zone for buying if the bullish momentum continues.

Target Levels:

First Target : $0.2887

Second Target : $0.3475

Main Target : $0.4101

To manage the risk, place your stop loss below $0.2006.

This technical outlook identifies a rounded bottom pattern in XLM's price movement on the daily chart. As the price breaks out of the pattern, volume spikes are often observed, confirming growing buying pressure from traders.

Three price targets are outlined by the analysts for XLM:

Traders are advised to set a stop-loss below $0.2006 to protect against potential bearish invalidation.

Ethena (ENA) Price Analysis: Bullish Flag Formation

Ethena is also displaying bullish characteristics, as noted by Rose Premium Signals. Trading at $0.557, the token is consolidating near the $0.66 resistance level, following a breakout from a descending broadening wedge — a pattern recognized for signaling trend reversals.

#ENAEthena shows bullish momentum with a break from descending broadening wedge on daily chart

Now price is forming the bullish flag pattern near the $0.66 resistance

If breakout occurs, we could see price surge towards targets at $0.66, $1.02, and $1.50 pic.twitter.com/9EzLowji0m

The chart highlights the emergence of a bullish flag pattern near the resistance, suggesting further upside potential. If the $0.66 level is breached, analysts predict price surges toward $1.02 and $1.50, marking critical resistance zones.

Support levels include $0.425 and $0.255, providing fallback zones for traders. A stop-loss below $0.425 is recommended to safeguard against unexpected declines.

Both Tokens Exhibit Favorable Technical Indicators

For XLM, rising volumes and its rounded bottom pattern support a potential price climb. ENA's RSI, currently at 61.23, reflects strong momentum, with volumes during its wedge breakout confirming heightened buying activity.

The analysis provided by Rose Premium Signals emphasizes the importance of observing key levels and patterns in both tokens. XLM's rounded bottom formation and ENA's flag pattern both position them for possible gains, contingent on volume and market sentiment sustaining their upward trajectories.