- XLM price maintains support within a demand zone, preventing further downside and signaling potential upward momentum.
- Resistance levels near $0.30 and $0.50 are crucial for XLM’s next move, with upward momentum possible.
- RSI at 41.14 and MACD histogram at -0.0192 suggest weak momentum yet indicate possible price recovery.
Stellar is approaching a key price moment as market conditions indicate a potential breakout. The asset has been trading within a demand zone, showing strong support at lower levels. Resistance levels ahead are critical, and a move beyond them could lead to significant price movement.
XLM Price Support Zone Holds
XLM has maintained stability within a defined demand zone, preventing further downside moves. Buyers have consistently absorbed selling pressure, keeping the price from falling below crucial support.
The market has seen increased accumulation at these levels, signaling potential strength. If this trend continues, the next challenge lies in overcoming resistance barriers. Lucky, a market analyst, observes that a strong uptrend led to a peak before forming a falling wedge pattern.
Source: Lucky (X)Support and resistance levels are marked, with a demand zone identified near $0.14. A breakout scenario is outlined, showing possible upward movement or further decline before recovery. Key levels include $0.2657 and $0.4159. The projected resistance zone extends beyond $0.50.
Resistance Levels Create a Critical Price Barrier
Resistance zones ahead will determine the next directional move for XLM . If the asset clears these levels, upward momentum could accelerate. A breakout above resistance may lead to stronger bullish sentiment, potentially pushing the price to higher levels. A move past resistance could establish a new trend, leading to increased market activity.
Tracking the current market indicators, RSI stands at 41.14, indicating weak momentum but not yet oversold. The MACD histogram shows a negative value of -0.0192, with the signal line at -0.0180, reflecting bearish pressure.
Source: TradingViewThe MACD line is currently at 0.0012, which provides the signal for a crossover. If the RSI goes higher than the 50 mark, then the chances of a continued bullish movement can be expected. The MACD has to wait for a bullish crossover to be confirmed. Its price fluctuation is volatile and has been ranging at around $0.30 as the resistance level and $0.20 as the support level.
