- Stellar (XLM) is trading at $0.3155, showing strong momentum above key moving averages.
- The token has gained 20% in the past week and 33% on higher time frames, following Bitcoin’s rise above $104K.
- XLM faces resistance at $0.322; a breakout could lead to targets at $0.351 and $0.372.
- Key support levels are holding at $0.289 and $0.298, with downside risk increasing if these levels break.
Stellar (XLM) has shown renewed strength in recent sessions, climbing to $0.3155 at the time of reporting. The altcoin is currently trading above major moving averages, signaling a short-term bullish trend that may lead to further upside if momentum holds.
The overall market is in bullish with Bitcoin recent surge above $104k that propelled bullish wave in the altcoins. XLM recently experienced significant surge and up by 20% in the last 7 days. Looking at the higher time frame XLM is up by almost 33% riding the bullish wave along with the overall market.
XLM Bulls Eye $0.351 If $0.322 Breaks
On the 4-hour chart, XLM is pushing against immediate resistance at $0.322, aligned with the upper Bollinger Band. A breakout above this level could open the door toward higher targets at $0.351 and $0.372, last seen in early February.
The token recently cleared its 200-period moving average at $0.267, a widely watched level for trend confirmation. Support from the 50 MA ($0.289) and 100 MA ($0.298) has also been firm, reinforcing the bullish case.
The Bollinger Bands are widening slightly, suggesting increasing volatility. XLM’s ability to stay near the upper band indicates that buyers are still in control, though a short-term pullback to the midline ($0.310) or even the lower band ($0.298) remains possible.
A drop below the $0.289 support area would weaken the current trend and could trigger a retest of the 200 MA near $0.267. Below that, stronger support sits at $0.221, a level that has historically served as a bounce zone.
If current momentum continues and XLM can break and hold above $0.322, traders will likely set their sights on $0.351 as the next key level. With major averages sloping upward and price action remaining constructive, Stellar appears to be in a favorable position, though a pullback can’t be ruled out if resistance proves too strong.
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