Stellar (XLM) Breakout Hints at Uptrend Toward $0.46

Despite the short-term bearish outlook, crypto analyst in the market remain optimistic. XLM recently broke out from a bullish pattern, signaling the start of a potential upward trend.

Stellar (XLM) price is showing limited movement on the 4-hour chart as it continues to struggle. The price is trading below short-term indicators, such as the 9-period Exponential Moving Average (EMA) at $0.2845 and the Triple Exponential Moving Average (TEMA) at $0.2797, highlighting the weakness in momentum.

Bollinger Bands are also beginning to tighten, with the upper band positioned at $0.3079 and the lower band at $0.2749. This contraction indicates decreasing volatility and often signals a potential breakout or breakdown. For now, the price remains confined within this narrowing range, suggesting indecision among traders.

The Relative Strength Index (RSI) sits at 35.07, slightly above the oversold threshold. This reading suggests weakening momentum and hints at possible further downside unless buyers return.

Meanwhile, the MACD histogram remains slightly negative, and both the MACD and signal lines are trending downward and staying below the zero line, confirming continued bearish pressure.

A drop below the $0.2749 support level could open the door to deeper losses, setting the stage for a move toward the next support at $0.26. Conversely, a break above the $0.2845 resistance, aligned with the 9-EMA, would be an early sign of a potential recovery.

However, stronger resistance is anticipated at the $0.30 mark, which could pose a challenge to the bulls.

Stellar (XLM) Breakout Hints at Uptrend Toward $0.46

Despite the short-term bearish outlook, crypto analyst in the market remain optimistic. XLM recently broke out from a bullish pattern, signaling the start of a potential upward trend.

The first upside target is around $0.46, with expectations that momentum could push even higher if this level is reached.

In summary, Stellar faces short-term pressure but holds promise for a bullish reversal if key resistance levels are reclaimed and momentum begins to shift.