Key Insights:
- XLM bounces off $0.285 support, pushing toward key resistance at $0.335 within the descending channel.
- RSI below 50 and MACD bearish crossover suggest caution despite short-term price recovery.
- Volume and structure hint momentum builds, but breakout above $0.385 needed to confirm trend shift.
Stellar (XLM) was trading near $0.3158, up around 2.76% in the last 24 hours. The 12-hour chart shows the price rebounding from a low near $0.285, moving within a descending channel. The recent shift includes higher lows and firmer candles, hinting at a possible test of the midline resistance close to $0.335.
A chart shared by Ali Martinez outlines a possible breakout scenario. If XLM clears and retests the midline as support, the next move could push toward $0.385, where the upper channel boundary sits. The zone has previously acted as a rejection area, so any attempt to break through would likely need steady volume support.
Market Activity Reflects Renewed Interest
Daily trading volume stands at about $165 million, while the market cap is close to $10.08 billion, based on data from CoinGecko. The 24-hour range shows XLM climbing from $0.2932 to $0.3178, with price currently near session highs. This setup points to consistent buying during the day.
Despite some claims on social media suggesting “new all-time highs very soon,” the current price remains far below the peak of $0.93 seen in early 2018. For that level to be reached, XLM would need to gain over 190% from current values. Short-term momentum exists, but a longer-term breakout is still out of reach unless more buyers step in.
Momentum Indicators Give Mixed Signals
The weekly chart shows signs of cooling. The MACD now reads negative, with the MACD line crossing below the signal line and histogram printing red. This shift shows selling strength has returned. Meanwhile, the RSI is at 45.98, below neutral, which signals that bullish momentum has slowed but isn’t oversold.
For a sustained trend reversal, the price needs to close above $0.34–$0.35 with backing from both MACD and RSI turning upward. Until that happens, caution remains.
Levels to Track Ahead
Short-term support is at $0.285. Resistance stands at $0.335, with further upside capped near $0.385. A clean move above those levels could shift sentiment further toward the upside. Failure to break out may keep prices stuck within the channel.
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Source: https://coincu.com/analysis/xlm-gains-speed-is-a-breakout-to-0-385/