Stellar (XLM) Rockets 12% in a Week: Is $0.7733 the Next Moon Shot?
Stellar (XLM) isn't just climbing—it's gunning for the stars. A 12% weekly surge has traders buzzing, and that $0.7733 target looks tantalizingly close. Here's why this altcoin might just dodge the usual 'crypto gravity' (for now).
The Pump No One Saw Coming
While Wall Street was busy overcomplicating ETFs, XLM quietly stacked gains. No hype, no meme magic—just steady upward momentum. Almost like... a functional asset?
The $0.77 Question
Break past this level, and suddenly every 'crypto skeptic' starts 'researching' Stellar's real-world payment rails. Funny how price action changes narratives faster than a hedge fund flips positions.
Cynic's Corner
Let's be real—half the buyers probably think 'Stellar' refers to Elon's next tweet. But hey, in a market where 'utility' often means 'excuse to pump,' at least this one's got actual banks using it. *Mic drop.*
- Stellar (XLM) has risen 12.4% over the past week.
- XLM is currently trading at $0.4533 with $706M in volume.
- Breaking $0.50 could trigger a strong upward rally.
- Immediate support levels are $0.3983 and $0.3604.
Stellar (XLM) continues to rise even in an already bullish market. In the last 24 hours, the token climbed almost 2%, and over the past week, it surged 12.4%. XLM is trading at $0.4533, with a 24-hour trading volume of $706.24 million and a market capitalization of $14.19 billion. Volume jumped 46.46% in a single day, indicating increased trader participation.
A key chart pattern is shaping up. XLM has an inverse head and shoulders pattern, a strong bullish signal, indicating that the downtrend could be over. The left shoulder materialized from late December to January, the head bottomed around $0.20 in April, and the right shoulder formed around $0.35 from July to August.
This development reveals the market is becoming increasingly confident, and buyers may push prices higher if the token breaks important resistance.
XLM Approaches Key Fibonacci Resistance Level
According to the crypto analyst Ali, the token sits just below the 0.786 Fibonacci retracement level at $0.45227. Resistance lies between $0.50 and $0.5209, and a move above this zone could trigger significant buying.
If the breakout happens, Fibonacci extensions indicate targets at $0.6083, $0.7194, and $0.7733. These levels align with past resistance. Short-term traders may use them for profit-taking, while long-term holders could view them as steps in a larger rally.
On the downside, support stands at $0.3983 (Fib 0.618) and $0.3604 (Fib 0.5). A fall below $0.36 WOULD break the bullish pattern and could push prices down toward $0.32. Currently, buyers hold the edge, and the $0.50–$0.52 zone is crucial for the next rally.
Market Activity and Sentiment
XLM derivatives show rising interest. Open interest grew 13.05%, reaching $431.87 million, signaling more traders are taking positions. Historically, higher open interest during consolidation often leads to larger price movements, especially when spot demand is high.
The OI-weighted funding rate stands at 0.0113%, showing a slight bullish tilt. With this factor in play, a breakout above resistance could push XLM into its next phase of gains.
Overall, stellar is up 12.4% this week, approaching key resistance at $0.50. A breakout could target $0.77, while support holds at $0.3983 and $0.36. Rising volume and derivatives activity point to growing market confidence.
