Stellar (XLM) Turns Bullish: Can It Break the $0.386 Barrier?

Stellar (XLM) has issued a strong bullish signal, reigniting confidence in the cryptocurrency market. After weeks of sideways trading, the SuperTrend indicator has turned bullish for the first time since late August, according to trader Ali. Currently, XLM faces a crucial test: can it break the $0.386 resistance level, which has been repeatedly defended by sellers in recent weeks?

Key Points

XLM has established support at $0.363, creating a stronger accumulation base.
Hidden accumulation patterns suggest larger wallets are quietly entering the market.
Technical indicators such as MACD have turned positive, while RSI remains neutral, allowing room for further gains.
A breakout above $0.386 could target $0.390 and $0.400 in the short term.
Medium-term forecasts eye $0.45-$0.48 by October 2025.

In-Depth Analysis

Stellar's recent rebound is closely linked to the overall stability in the cryptocurrency market. This stability provides a healthy backdrop for altcoins like Stellar to regain momentum. Technical analysis indicates that XLM has formed support at $0.363, suggesting that buyers are actively accumulating. With trading volume steadily increasing in this zone, investors are viewing this rebound as a more sustainable movement rather than a mere temporary bounce.

Moreover, technical indicators are also showing positive signals. The positive shift in the MACD indicates increasing buying pressure, while the RSI remains at a neutral level of 48, implying there is still room for further appreciation without entering overbought territory. All these factors set a solid foundation for XLM’s upward movement.

Market Impact

If XLM can successfully break and hold above $0.386, the short-term target will likely shift to $0.41-$0.42, with a stronger push towards $0.45-$0.48 expected in the next 4-6 weeks. However, failure at this resistance could see XLM retreat to the $0.38-$0.383 range, with a deeper drop towards $0.37 possible if sellers regain control. Currently, XLM is trading at $0.384, reflecting a 3.5% intraday gain, showcasing a cautious optimism in the market.

Investment Suggestion

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Conclusion

Stellar (XLM) is at a crucial technical juncture, with improved market conditions and positive technical indicators offering hope for its future performance. As traders focus on its ability to break the $0.386 resistance, the coming weeks may determine the sustainability of this rebound. Regardless, investors should closely monitor market dynamics and devise appropriate investment strategies for optimal returns.