Stellar (XLM) price momentum weakens after a 459% increase, has it peaked?

The price of Stellar (XLM) has recorded a 459% increase over the past month, but currently, the momentum is weakening. The RSI index has dropped to 50.5, indicating a neutral position and a reversal from the overbought condition. This, along with XLM facing significant resistance levels at $0.53 and $0.56, suggests that upward momentum may be limited in the short term.

Technical indicators such as the Ichimoku cloud and EMA line also reflect weakness in the current uptrend. If the price fails to recover and hold above the support levels, a strong correction is likely with the next support level around $0.099. Conversely, if XLM breaks and maintains above the resistance levels of $0.638 and $0.70, the price may continue to grow.

Therefore, it can be said that the price of XLM has not peaked yet and is currently in a correction phase, with the potential for strong volatility in the short term based on market sentiment and price momentum.