- Stellar (XLM) forms a cup and handle pattern, signaling a potential bullish continuation.
- XLM faces key resistance at $0.41, with upside targets at $0.55 and $0.6389.
- 85% of community votes remain bullish, highlighting strong investor confidence.
Stellar (XLM) is on the way to its upward momentum with an appreciation in its value, mirroring the overall market sentiment. The XLM price over the last 24 hours is up by 3.21%, but over the last week it is slightly down by 1.45%.
At the time of writing, XLM is trading at $0.3786 with a 24-hour trading volume of $212.63 million, down by 6.05% over the last 24 hours. The token has a market capitalization of $12.07 billion, which is up by 3.21%.
Source: CoinMarketCap
In general, the trend in the crypto market is turning from bearish to bullish with the BTC’s upward surge and growing investor confidence in the crypto sector. The altcoins are also benefitting from this surge, including XLM.
Stellar (XLM) Gears Up for Potential $0.63 Move
The weekly chart of Stellar (XLM) is forming a classic cup and handle pattern, signaling a potential bullish continuation. The rounded base (cup) and short pullback (handle) highlight accumulation and consolidation phases. At present, XLM is trading around $0.3798, just below the key breakout zone near $0.41 immediate resistance.
Source: TradingView
If bulls manage to secure a breakout above $0.41, the next upside targets are $0.55 and $0.6389, which act as strong resistance zones. On the downside, firm support rests at $0.3369, cushioning against sharp declines. Overall, the chart leans toward a bullish outlook, but a confirmed breakout is essential for momentum.
Also Read: Stellar (XLM) Targets $0.43: Is a Break Toward Its $0.93 ATH Possible?
Stellar (XLM) Technicals Provide a Cautous Outlook
Currently, the RSI is at 54.34, reflecting neutral momentum, and the average of RSI is slightly above at 57.41, reflecting slight bullish power. Now, the price is around $0.38 and consolidates ater recent fluctuations.
Source: TradingView
MACD lines are close together, with the MACD line at 0.02659 and the signal line at 0.02843, indicating waning bullish pressure. Histogram bars are fading and are heading red, indicating that buyers are losing steam and selling pressures may prevail. Overall, the chart suggests indecision and a bearish crossover may emerge.
Stellar Community Sentiment Hints at Strong Gains
The data from CMC revealed that the community sentiment has a definitive tilt towards a bullish trend since 85% of the voters are expecting upward movement of the market. Out of a total of 171.3K votes, this represents an outright majority of optimistic opinion. Such optimism suggests that a majority of participants are expecting growth and rising prices.
Source: CMC
On the other hand, 15% of voters are pessimistic with a bearish view of downward shifts. Although a less significant group, they reflect caution and concern about prospective declines. Their stance indicates that none of the participants are equally hopeful about the direction of the market.
Also Read: XLM Struggles Under Resistance but Bullish Targets Remain at $0.50
