Stellar (XLM) has stabilized after a recent decline, bouncing from a key demand zone as selling pressure shows signs of easing. The token’s bearish momentum is fading, according to technical analysis, though it continues to trade below crucial weekly moving averages. Analysts note the price is approaching an area where indicators suggest a potential trend reversal could develop.
Stellar (XLM) price has stabilized after a recent dip, rallying back from a key demand zone. Analysts are watching to see if the selling pressure continues to ease.
In the last session, XLM saw a decline as the broader market dipped. The long-term trend has been under pressure, but early signs point to a potential reversal.
At the time of writing, XLM is trading at $0.1907. Data shows a 24-hour trading volume of $251.99 million and a market cap of $6.20 billion.
Crypto analyst Rose Premium Signals highlighted that Stellar may be entering a potential early bullish area. “The token has been able to bounce from a crucial demand area, and the descending trend appears to be weakening,” the analyst stated.
The analyst noted this is a developing setup that may be profitable for patient investors. Specific upside targets mentioned are $0.3617, $0.4378, and $0.5093.
XLM’s weekly outlook remains cautious, with an RSI of 32.85 indicating weak momentum. The token trades below its main weekly moving averages, which act as resistance.
The MACD remains in negative territory, signaling persistent downside pressure. However, the bearish momentum is reported to be slowing down.
Overall, Stellar is approaching an area where technical indicators meet a weak higher-timeframe trend. Investors are watching to see if the cryptocurrency can break past resistance for a sustained move higher.
