Stellar (XLM) is gaining momentum as a decentralized, open-source blockchain powering fast, low-cost cross-border payments and frictionless asset transfers.
As a result, market analyst CryptoAlphas believes that XLM is eyeing a short-term breakout from a falling wedge on lower time frames, targeting $0.50. A 211.20% surge in 24-hour trading volume signals strong buyer momentum.
CryptoAlphas added, “Momentum indicators like RSI (neutral at 52.38) and a potential MACD bullish crossover suggest increasing bullish momentum. Key support levels are at $0.35–$0.36 and $0.31–$0.33, with resistance near $0.43, where a breakout could propel XLM toward $0.53–$0.58.”
Therefore, a strong close above $0.43 on high volume is key to confirming XLM’s bullish breakout.
At the time of this writing, Stellar was trading at $0.409, according to CoinGecko data.
Stellar’s Key Support Zone Lies at $0.36
According to market analyst Tom Tucker, “XLM held strong above the $0.33 neckline after a 140% rally, with the 20 EMA reclaimed and a bullish EMA20/SMA50 crossover intact.”
Tucker added that if momentum persists, XLM could rally to $0.52 with key support sitting at $0.36 following an 8% rebound, keeping the bullish trend intact.
Source: Tom Tucker
Therefore, Stellar stands at a pivotal moment, and its short-term trajectory will soon reveal whether momentum favors a breakout or pullback.
