Stellar (XLM) is showing signs of a potential breakout after rebounding from critical levels. As of now, XLM is trading at $0.2723, with a 24-hour trading volume of $173.67 million. The altcoin has gained 0.43% in the past hour and 3.08% since yesterday, signaling increased buying pressure.
Read Stellar Price Prediction 2025, 2026 - 2030
Market Overview & Historical Performance
Stellar has a circulating supply of 30.73 billion XLM out of its max supply of 50 billion XLM, making it a deflationary cryptocurrency. Despite being 68.89% down from its all-time high (ATH) of $0.8756 in January 2018, it has skyrocketed 57,101.38% from its all-time low (ATL) of $0.000476 in March 2015. This highlights its long-term recovery potential.
Technical Indicators & Reversal Signals
The 50-day SMA at $0.3233 and the 200-day SMA at $0.2677 indicate mixed trends, with short-term resistance ahead. However, technical analyst Martinez suggests a possible trend reversal, citing a descending channel pattern on XLM’s daily chart.
A descending channel is typically bearish, characterized by lower highs and lower lows, but a breakout above the upper boundary could signal an uptrend.
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Price Targets: A 40% Rally in Sight?
XLM has traded within this descending channel since November 2024, hitting support at $0.23 in early March. The price has since rebounded and is now approaching the midline of the channel at $0.30.
Martinez predicts that if momentum continues, Stellar could rally up to $0.38, marking a potential 40% surge from current levels.
With market sentiment turning positive and key resistance levels being tested, traders are closely watching for a breakout. Will XLM reclaim higher levels, or is another correction on the horizon? Stay tuned.
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