Stellar (XLM) has seen a significant price surge over the past 24 hours, rising by more than 16% and recovering its $13 billion market cap. Technical indicators like the RSI, Ichimoku Cloud, and EMA lines suggest bullish momentum may continue. However, there are potential resistance levels ahead.
The RSI remains in the overbought zone, signifying heightened buying activity and strong bullish momentum. With the indicator above 70 since January 1, XLM's recent price rise highlights its robust appeal among traders.
The Ichimoku Cloud chart shows a decisive breakout above the red cloud, indicating purchaser control. As the Tenkan-sen crosses above the Kijun-sen and the Chikou Span remains above the cloud, bullish signals appear strong.
Expect resistance at $0.47 and support at $0.41, which will determine potential upward movement or a substantial 27% correction if support fails. In short, recent indicators point to an overall bullish trend for XLM.
