🚀 XLM/USDT Weekly Analysis – A Key Breakout or Rejection Ahead? 📊
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Stellar (XLM) is back in the spotlight as the price surges by an impressive 45.32% this week, currently trading at $0.28565. The chart is showing signs of a possible bullish continuation, but XLM is now heading into a key supply zone, which could either solidify its bullish case or act as a strong resistance. Let’s break it all down in this detailed analysis.
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📊 Key Market Metrics
Current Price: $0.28565
24H High: $0.29370
24H Low: $0.23154
24H Volume: 959.18M
Weekly Performance: +45.32%
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🔥 Technical Breakdown
1. Price Approaching a Key Supply Zone
The supply zone (marked in blue on the chart) spans between $0.60 and $0.79, a historically significant resistance area.
This zone previously triggered heavy sell-offs, and a break above it would indicate a major bullish breakout.
2. Key Support Levels
Primary Support: $0.12436 – This level acted as a strong buying zone during the previous market consolidation.
Secondary Support: $0.11222 – A critical fallback level if the price fails to sustain its current upward momentum.
If these levels hold during pullbacks, they could pave the way for future bullish attempts.
3. Volume and Moving Averages
The weekly volume surge reflects growing buyer demand, which is crucial for a sustained uptrend.
XLM is trading well above its moving averages, confirming bullish sentiment.
4. Potential Upside Targets
A breakout into the supply zone could lead to rapid price action toward $0.80.
If XLM surpasses this range, the next major psychological target would be $1.00, a key level that hasn’t been seen in years.
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🔮 Possible Scenarios
Bullish Case
XLM breaks and holds above $0.60-$0.79, confirming the start of a major bullish rally.
Sustained momentum could push the price toward $1.00 or higher, entering price discovery mode.
Bearish Case
If XLM faces rejection in the supply zone, we may see a pullback to $0.20-$0.25.
A deeper correction could test the $0.12436-$0.11222 support range.
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📌 Final Thoughts
XLM/USDT is at a critical turning point, with the potential for significant price action in either direction. Bulls have shown strength, but the supply zone is a decisive hurdle. Traders should watch for clear breakouts or rejection signals to determine their next moves.
💡 Are you bullish or bearish on XLM’s future? Share your insights in the comments!
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Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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