XLM Shatters Resistance—$0.80 in Sight as Bulls Charge
Stellar (XLM) just bulldozed through key resistance—and now traders are eyeing a run to $0.80. The rally’s got momentum, but let’s see if it lasts longer than a Wall Street promise.
Why This Breakout Matters
XLM’s surge isn’t just another pump. Breaking resistance signals real buying pressure, not just hype. The next target? $0.80. Miss that, and the bulls might get stuck in consolidation purgatory.
What’s Fueling the Rally?
Could be institutional interest, could be traders chasing the next big move. Either way, volume’s up, and the charts look bullish. Just don’t ask the ‘fundamentals’ crowd—they’re still recovering from their last ‘long-term hold’ disaster.
The Bottom Line
XLM’s got room to run, but crypto moves fast. One minute you’re riding high, the next you’re explaining to your portfolio why you didn’t take profits. Trade accordingly.
- XLM posts an 80% weekly gain despite short-term profit booking.
- The price action is a multi-month consolidation range breakout.
- The technical perspective suggests there is a possible downtrend towards the $0.80 area.
Stellar (XLM) has been in headlines across the crypto universe ever since it registered a spectacular 80.30% increase in the past week. XLM is now trading at $0.4476 with a 24-hour trading volume of $2.17 billion, along with a market capitalization of $13.9 billion.
Even though it is lower by 5.51% in intraday trading due to profit-taking in the immediate term, there is a bullish long-term perspective. The week-long price move began with slow green candles indicative of accumulation and slow bullish buildup.
As market confidence increased in midweek, price as well as volume surged, passing XLM through major resistance levels.
The token price touched a high of just over $0.50, recovering nearly 100% of its preceding week’s low of nearly $0.24.
XLM Maintains Bullish Momentum Despite Price Pullback
Following this swift MOVE upwards, XLM dipped into a small correction period. Traders have begun taking profits around the current top, creating a series of small red candles.
But the correction has been quite modest, and the coin is consolidating around the $0.45 support zone now. Volume has slightly decreased in this lull, reflecting the market tapering off without any significant sentiment shift.
Technically, it is still fine provided the price stays above the $0.40–$0.42 support area. This sideways movement might be preparing one further move higher, especially in the event buying pressure is regained.
As such, this support is stronger because it falls right at both the past breakout area and the primary Fibonacci levels.
XLM Chart Signals Continued Rally Toward $0.80
The technical chart presented by market observer BigMike7335 shows a bullish formation in XLM. There is a higher highs and higher lows structure in this chart, likely on a 4-hour or daily chart, showing a traditional uptrend.
There is a breakout using a large green candle with increased trade volumes, confirming market sentiment. Even more relevant, there is a potential golden cross in the works, a situation in which a shorter-term moving average breaks above a longer-term one, typically bullish.
The Relative Strength Index (RSI) is between 60 and 70, in bullish pressure territory but not yet overbought. In addition, price is in or above the higher Bollinger Band, once again in favor of persistent buying pressure.
Short-term resistance is at $0.50, with long-term potential at $0.80, on a breakout of a 7-month bull flag formation.
From a risk-reward perspective, a buy at around current levels is a good entry, with a stop below $0.2870 and upside targets at $0.50 and $0.80.
: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.
