Key Insights:
- •XLM faces tight resistance at $0.38; a breakout could open a path toward $0.50.
- •Technical indicators show weak momentum, with price stuck between key support and resistance levels.
- •OBV and MACD suggest fading bullish strength; traders await confirmation for the next major move.
Stellar (XLM) has been moving between $0.35 and $0.38 for several weeks. Both levels have been tested multiple times, with $0.35 acting as a strong support zone and $0.38 as resistance. These two levels are now the focus for traders waiting on the next clear move.
Price was currently sitting around $0.3656. This keeps XLM close to the upper end of the range. A move above $0.38 could shift the trend, while failure to break that level may keep the asset trading sideways.
Indicators Show Weak Momentum
Short-term trend signals remain weak. The 20-period moving average is positioned under the 50-period moving average. Price is also sitting below both lines. This setup often appears when upward momentum is not fully supported.
The Relative Strength Index (RSI) is now at 45. That places it just under the midpoint. While not showing strong selling pressure, it does not suggest much strength from buyers either. The sideways RSI confirms that the market is in balance—for now.
Volume Signals Lack of Strong Buying
The On-Balance Volume (OBV) shows a reading of 22.31 billion. After rising for several sessions, it has started to dip slightly. This suggests that the buying volume seen earlier may be cooling off. If this continues while the price holds steady, it may signal hesitation from buyers.
The MACD has recently turned negative. A crossover has occurred, with the MACD line moving below the signal line. The histogram has shifted into red territory. This crossover, while still shallow, reflects a drop in momentum from earlier in the week.
Watching $0.38 for the Next Move
Many traders are keeping their focus on the $0.38 mark. A break above this level could send XLM toward $0.40, $0.43, and possibly $0.46. The final target, based on previous swing highs and technical zones, is set around $0.50.
Market analyst Ali shared the following view:
“Stellar $XLM breaking $0.38 resistance could confirm the first step of a bullish breakout to $0.50.”
That breakout has not yet occurred, but price is approaching the level again.
If XLM fails to stay above $0.35, attention may shift toward the next support area around $0.23. For now, the asset remains in a holding pattern, with traders waiting on a clear break to determine the next direction.