Stellar reclaims channel midline; XLM rises 14% to $0.169

Stellar’s native token XLM climbed about 14% to roughly $0.169, reclaiming the midline of a long-term parallel channel and breaking a descending trendline. The token’s market capitalization moved above $5.6 billion.

On the four-hour chart, price broke a descending trendline that began at the April 21 swing high near $0.185. The breakout occurred on a sharp spike in volume, and the largest recent green candle pushed XLM back above $0.165. Short-term indicators show strength: the four-hour Relative Strength Index is near 75 and the MACD histogram prints rising green bars. A pullback to $0.165 would provide a clearer entry for buyers.

If sellers drive price below the channel midline, the $0.14 to $0.15 support band is the next level to watch. That band previously marked the low that preceded the most recent leg higher.

On the daily chart, XLM reclaimed the channel midline that has framed price since early February after a bounce from the $0.14 support band. Two consecutive daily green candles confirmed the change in tone and the current daily candle continues to push price higher. Daily RSI broke a descending resistance trendline. The Bollinger Band Width Percentile is elevated, a reading often seen at the start of trend moves.

The first resistance level to clear is $0.18. A decisive daily close above that level would open a path to $0.20, with a heavier supply zone around $0.25 acting as a larger barrier. A close back below the midline would put $0.14 back in play and invalidate the immediate breakout structure.

On the weekly timeframe, XLM is trading on horizontal support that dates to 2021 and supported consolidation from 2022 through 2024. A sample of traders view the current action as a reversal pattern on the weekly chart. Trader PacquianPrime wrote: “$XLM just painted the path to $0.60. Weekly chart looking clean. Broke structure, retested, and now the liquidity sweep above is calling. $0.6 incoming. Not financial advice, but the chart doesn’t lie.” Upside targets on the weekly chart range between $0.50 and $0.60.

Near term, the technical picture remains favorable while price holds above the channel midline near $0.165, with $0.18 the immediate test. A failure to defend the $0.14 support would likely return XLM to range-bound trading. XLM is trading around $0.169 with a market capitalization above $5.6 billion. Volume and momentum readings will indicate whether the breakout extends or loses steam.

Stellar is a Layer 1 blockchain and XLM is used for payments and cross-border transfers on the network.