Stellar (XLM) Eyes Recovery Amid Market Rebound, Key Levels to Watch
- XLM rebounds with a 9.82% surge after a month-long decline, signaling potential recovery.
- A breakout above the $0.30$0.35 range could push the price toward $0.64 and higher.
- Key support at $0.2077 and resistance at $0.6434 and $0.8466 define the next price targets.
- Bitcoins rally continues to drive market-wide momentum, boosting XLMs prospects.
Stellar (XLM) is showing strong signs of recovery after weeks of bearish pressure, fueled by Bitcoins recent rally. Following a sharp 25% decline over the last 30 days, XLM has gained 9.82% in the past 24 hours, sparking optimism for a potential breakout. As the crypto market regains momentum, investors are closely watching XLMs price action for confirmation of a bullish reversal.
At the time of writing, Stellar (XLM) is trading at $0.30054, with a 24-hour trading volume of $586.95 million and a market cap of $9.16 billion. This price increase comes as altcoins rebound, following Bitcoins surge, which is helping drive liquidity back into the market. If buying momentum continues, XLM could see further upside in the coming days.
Stellar (XLM) Eyes Major Breakout Above $0.30$0.35
Technical indicators suggest that XLM is nearing a critical breakout zone. According to Rose Premium Signal Analysis, a decisive move above the $0.30$0.35 range could propel XLM toward $0.64 and beyond. Traders should keep an eye on rising trading volume and buying pressure as key signals for a sustained rally.
Key support and resistance levels are also coming into focus. The primary support zone sits at $0.2077, aligning with the 0.786 Fibonacci level, which could act as a strong foundation in case of a pullback. On the upside, major resistance levels stand at $0.6434 and $0.8466, marking potential targets if XLM successfully breaks out of its current range.
With Bitcoins continued uptrend providing market-wide bullish momentum, XLM appears to be on the verge of a significant breakout. If the price holds above key resistance levels, Stellar could reclaim higher valuations and strengthen its position in the market. Stay tuned for the latest updates on XLMs price action and potential rally.
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Read more: https://www.tronweekly.com/stellar-xlm-eyes-recovery-amid-market-rebound-key-levels-to-watch/
Text source: TronWeekly
