Stellar (XLM) prices are showing a corrective structure after a pullback from the $0.45 resistance level. Currently, the token is trading near the $0.32 – $0.30 support zone. This article discusses the current market conditions and possible price movement scenarios.
Rejection from Resistance and Current Trading Zone
As of writing, Stellar is undergoing a corrective phase following rejection at the $0.45 resistance level. The current price is around $0.3612, reflecting a slight increase of 0.4% over the past 24 hours, fluctuating between $0.3484 and $0.3647. The focus remains on the $0.32 – $0.30 support zone, where new accumulation opportunities are anticipated.
Technical Indicators and Market Context
According to Alpha Crypto Signal, the 21-day EMA is at $0.3799, while the 50 SMA is at $0.4189. This alignment confirms short-term bearish pressure, but accessing the demand zone may serve as a reversal point. Currently, there are 31.38 billion XLM in circulation out of a maximum of 50 billion, with a market cap of $11.32 billion.
Outlook and Critical Levels to Watch
The immediate roadmap for Stellar centers on the $0.32 – $0.30 demand zone. Traders expect the price to stabilize within this range before attempting a recovery. If the price reaches the $0.42 level, such a move would correlate with the 50 SMA. A breakout beyond $0.45 could extend the price to the $0.50-$0.55 region.
The current price situation for Stellar requires careful monitoring of the $0.32 – $0.30 support zone, which may provide a basis for future growth. Traders are waiting for confirmations to inform their decisions regarding subsequent movements.
