Stellar, a prominent player in the cross-border payments space, is now changing hands at $0.2646. With a market cap of $8.24 billion and a daily trading volume of $130.88 million, the token is showing early signs of renewed interest. Following a prolonged downtrend within a descending channel, XLM has broken above this structure and is now consolidating just above the former resistance.
XLM’s volume uptick indicates growing interest among market participants, particularly as price remains tightly bound between $0.2626 and $0.2677. The increased 24-hour volume further supports the theory of building momentum, while the price stability above the $0.26 region reflects trader confidence in the current level. So, where could the XLM price head next? Read this Stellar (XLM) price analysis for potential price targets.
XLM Price Analysis
The daily price chart shows XLM decisively breaking out of a descending channel, a bullish technical development. The token is now retesting the breakout zone and consolidating above its 9-day SMA at $0.2762. This suggests a healthy retest rather than a failed breakout.
Resistance lies at $0.3, a psychological and structural barrier. A successful close above this mark would open the door for the next major resistance at $0.38. On the losing side, the key support sits at $0.2228. If bears regain control and break below this level, Stellar could revisit previous lows.
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FAQs
Stellar is showing early bullish signs, having broken out of a descending channel and holding above key support.
Immediate resistance lies at $0.3, followed by a stronger zone near $0.38.
Accumulation above the breakout level suggests growing bullish interest, but confirmation above $0.3 would provide a clearer entry signal.
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