Stellar Price Moves Within Falling Wedge Pattern
Stellar (XLM) price is trading slightly lower around $0.37 on Tuesday. It is moving inside a falling wedge pattern on the daily chart. This pattern often signals a possible breakout to the upside. If XLM breaks above the wedge, bulls could take control and push the price higher.
On-Chain and Derivatives Data Show Positive Signs
Data from Arthemis Terminal shows Stellar’s Total Value Locked (TVL) rose to $144.4 million on Tuesday. This is up from $139.1 million on Saturday and close to the August high of $153.6 million. A rising TVL means more users are active in the Stellar ecosystem.
On the derivatives side, bullish bets on XLM are at their highest in over a month. The long-to-short ratio stands at 1.07, indicating more traders expect the price to rise.
Technical Indicators Suggest Bullish Momentum
XLM is near the upper boundary of the falling wedge pattern at $0.367. A breakout above the $0.382 resistance could push the price toward the July 18 high of $0.52.
The Relative Strength Index (RSI) is at 45, close to the neutral level of 50. This shows bearish momentum is fading. The Moving Average Convergence Divergence (MACD) is also close to a bullish crossover. These signals support a potential upward move.
If XLM fails to break out, it may drop to the 200-day Exponential Moving Average (EMA) near $0.34.
