Stellar (XLM) is commanding market interest as the token charts an upward trajectory. With analysts pointing to promising technical indicators, XLM’s path toward a historic rally seems clearer than ever.
A chart analysis suggests price movements may be underway, driven by growing momentum and strong support levels. Market watchers are keeping an eye on key targets, hinting at a possible challenge to its all-time high. So, what’s fueling this bullish outlook for XLM?
What you'll learn 👉
Stellar Price Trends and Resistance Levels
At press time, XLM is trading at $0.46, reflecting an 8.44% daily increase and a 6.27% over the week. Analyst Charting Guy shared his analysis on XLM’s price action. He pointed out that a downward trendline had been broken by Stellar, suggesting a potential upward trend.
Moreover, he outlined key resistance levels at $0.62 and $0.93. Notably, $0.62 marked a resistance zone in late November and early December.
Meanwhile, $0.93 aligns with the 100% Fibonacci retracement and represents XLM’s all-time high. Beyond these levels, analysts identify $2.46 as a long-term target, supported by the 1.272 Fibonacci extension.
XLM Technical Indicators Bolster Optimism
Technical indicators point to XLM’s bullish trend. The 21-, 50-, and 200-day EMAs are all above the price at the moment. Strong rising momentum is highlighted by this alignment, with the 200-day EMA serving as dynamic support.
Market confidence may also be bolstered by the potential for a golden cross, in which the 50-day EMA crosses above the 200-day EMA. With a rise between 50 and 60, the RSI is currently in the neutral-bullish zone, suggesting that purchasing pressure is intensifying.
Read also: Here’s Why the Fartcoin Price Is Pumping
Support Levels Signal Safety Nets
Support levels at $0.32 and $0.23 provide critical zones for potential retracements. The $0.32 level corresponds to the 0.702 Fibonacci retracement, while $0.23 aligns with the 0.618 retracement. These zones are seen as key areas to watch during corrections.
Charting Guy emphasized that breaching $0.62 could pave the way for XLM to challenge its $0.93 all-time high. Achieving the ambitious $2.46 target would require sustained momentum and broader market support. The analyst suggests this long-term growth is feasible in a strong bull market.
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