Stellar (XLM) has seen a 12% price increase in the past 24 hours, as its trading volume surged to $1.64 billion. Technical indicators like RSI and Ichimoku Cloud show strong bullish momentum.
XLM’s EMA lines are positive, approaching resistance near $0.485, with potential to exceed $0.5 for the first time since December. However, if bearish pressures arise, support at $0.43 must hold to prevent a correction.
The RSI at 65.7 indicates strong buying momentum, though caution is advised against overbought conditions, increasing the risk of a correction.
The Ichimoku Cloud shows a bullish setup with the price above the Kumo and strong upward momentum indicated by technical lines.
If resistance at $0.485 is broken, XLM could rise above $0.50, but if bearish pressures build, support at $0.43 becomes critical.