Stellar began the week near $0.357 and faced early downward pressure before rebounding strongly. The asset climbed steadily, reaching highs around $0.367 as bullish sentiment took hold. It closed the week maintaining strength at approximately $0.365, reflecting solid overall growth.
As of today, the Stellar price has surged steadily, peaking above $0.367 before consolidating. Currently, Stellar is trading around $0.365, indicating a short-term bullish momentum with minor pullbacks.
Source: CoinMarketCap
Recent data shared by on-chain analyst Ali Martinez indicates that Stellar (XLM) could be gearing up for a significant bullish breakout. The chart highlights a strong support zone near $0.357, where the asset has consolidated after recent downward pressure.
This base is seen as a potential launch point, with the price already showing signs of recovery and preparing to test higher resistance levels. The analysis suggests that as long as Stellar holds above this support, momentum could build for a sustained upward move.
Martinez projects a possible climb toward $0.41, with intermediate resistance levels at $0.375 and $0.385 that may temporarily slow the rally. A successful break above these points would confirm bullish strength and open the door for further gains.
This outlook positions Stellar as one of the altcoins to watch closely, as growing market confidence and technical setups point toward an imminent surge if buying pressure continues.
XLM retests bull market support band ahead of 2025 outlook
According to the chart shared by STEPH IS CRYPTO, Stellar ($XLM) is currently testing the bull market support band, a key technical indicator that often determines whether an asset can sustain its upward trajectory.
Historically, XLM has experienced sharp declines of over 90% in 2017 and 81% in 2021 following failed retests of support. This time, however, the asset appears to be consolidating at higher levels, suggesting that the bull market structure may remain intact if the support band holds.
Source: X
The outcome of this retest is crucial, as maintaining strength above the band could set the stage for renewed bullish momentum heading into 2025.
If XLM fails to hold the current levels, it may risk entering a deeper correction, but resilience at this zone would reinforce confidence among buyers.