Stellar (XLM) Price Nears Key Resistance Level
Stellar (XLM) price is close to its important resistance around $0.256. The price rose over 10% in the last two days. At the same time, Stellar’s Total Value Locked (TVL) has reached a new record high. This shows more activity in the Stellar network and adds to positive market sentiment. If XLM closes above $0.256, it may start a stronger upward move.
Stellar’s TVL Reaches New All-Time High
According to DefiLlama, Stellar’s TVL hit $169.30 million on Tuesday. This is the highest TVL the network has seen. The rising TVL means more users are depositing and using assets on Stellar-based projects. This matches the recent increase in XLM’s price.
Data from CryptoQuant also shows that whales control large buy orders. Both XLM spot and futures markets show strong buying pressure. This supports a possible price rally soon.
Stellar Price Outlook: Bulls Eye Breakout Above $0.256
- XLM found support near $0.221 last Friday.
- Price rose more than 10% in three days after that.
- Now, XLM is close to the 38.20% Fibonacci retracement level at $0.256.
- This level matches the top of the falling wedge pattern, making it a key resistance.
If XLM breaks and closes above $0.256 daily, the price could move toward the 50-day EMA at $0.292. The Relative Strength Index (RSI) is currently 42 and moving up, showing that bearish momentum is weakening. For the rally to continue, RSI must pass above 50. The Moving Average Convergence Divergence (MACD) also gave a bullish signal on Monday, supporting a buy outlook.
If the price falls, it may drop back to support at $0.221.
