Stellar price has just made a powerful move, with XLM surging to $0.3314. That’s its highest level since March, and it’s now up 50% from its June lows. According to the team at Scopuly – Stellar Wallet, this is more than just a short-term pump. The data shows that real momentum is building around XLM, and it’s catching the attention of serious investors.
The current rally is not just a spike on the chart. Daily gains for Stellar have reached 14.5%, and the trading volume has soared by 300%. That’s a major signal that demand for XLM is heating up. On the technical side, Stellar price has broken above both the 50-day and 200-day exponential moving averages, which analysts like the team at Scopuly say is a clear bullish sign.
Also important is what’s happening on-chain. Stellar’s total DeFi total value locked (TVL) has just hit an all-time high of $104 million. At the same time, open interest in XLM futures has jumped to $281 million. That’s a sign that big money is starting to get involved in the market.
XLM Price Faces Key Resistance Around $0.34
Right now, the XLM price is testing a key resistance area between $0.34 and $0.36. If the price can break through this range and hold above it, Scopuly suggests the next move could take Stellar up to $0.41 and maybe even $0.50 soon after.
However, the analysts also note that the RSI indicator is showing a reading of over 79, which is deep in overbought territory. That doesn’t mean the rally is over, but it does mean a short-term pullback is very possible. If that happens, the price might revisit $0.30 or even $0.26 before the next big move.
Why This Stellar Rally Might Be Different
This time, it’s not just hype pushing the Stellar price higher. Scopuly points out that the rally is coming alongside real network growth. Stablecoin supply on the Stellar network is rising, and more developers are building DeFi apps using its infrastructure.
All of this points to a deeper shift in how investors and users are viewing the XLM ecosystem. If Stellar can flip this resistance into support, then this breakout might be the beginning of a larger trend reversal. That could give XLM a strong foundation to grow from in the coming weeks and months.
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The momentum behind Stellar price right now is hard to ignore. With the price up 50% from June, volume surging, and DeFi growth reaching record levels, XLM is showing real strength. While some caution is needed due to overbought signals, analysts like Scopuly believe this could be the start of something much bigger if resistance is cleared. Keep watching the $0.34 to $0.36 zone. What happens there could set the tone for the rest of the month.
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