Stellar (XLM) price has increased by more than 16% in the past 24 hours, bringing the market capitalization back to the $13 billion mark and demonstrating the strength of the uptrend. Technical indicators including RSI, Ichimoku Cloud, and EMAs all suggest that XLM has the potential to continue rising, but also faces important resistance levels ahead.
The RSI is currently in the overbought zone, reflecting increased buying activity. Meanwhile, the appearance of the golden cross pattern and the Ichimoku setup suggest that the uptrend could be sustained. Important levels such as resistance at $0.47 and support at $0.41 will play a decisive role in whether XLM can continue its rally or face a sharp correction.
The RSI of Stellar remains in the overbought territory.
The relative strength index (RSI) of Stellar is currently at 71.1, above the overbought threshold of 70 since January 1. This is a significant jump compared to December 31, when the RSI was still in the neutral zone. The high RSI indicates strong buying momentum, significantly contributing to XLM's nearly 16% price increase in the past 24 hours.
However, the RSI exceeding 70 also signals that this asset may be approaching overbought territory, increasing the likelihood of a correction or short-term accumulation.
XLM 4-hour RSI index | Source: TradingView
RSI is a momentum indicator that measures the speed and strength of price movements on a scale from 0 to 100. When the index exceeds 70, it typically indicates overbought conditions, which may lead to price corrections or accumulation phases. Conversely, an RSI below 30 indicates that the asset is oversold and likely to rebound.
With the RSI of XLM at 71.1, this indicator shows that the bullish momentum remains strong, but the likelihood of continuing to rise will become increasingly difficult.
Ichimoku Cloud shows solid upward momentum.
The Ichimoku Cloud chart of Stellar shows a strong bullish setup, with prices firmly above the red cloud. The breakout above this cloud signals a decisive shift in momentum, with buyers in control.
The green cloud ahead, formed by Senkou Span A and Senkou Span B, continues to bolster optimistic sentiment, suggesting that the upward trend may persist in the short term.
XLM/USDT 4-hour chart | Source: TradingView
Additionally, the Tenkan-sen line (conversion line) in blue has crossed above the Kijun-sen line (base line) in orange, further reinforcing bullish momentum as the short-term price action surpasses the long-term trend. The Chikou Span line (lagging line) in green is also above both the price and the cloud, indicating that the current bullish trend is consistent with recent price history.
Overall, the Ichimoku Cloud setup confirms that XLM is in a strong uptrend, with technical indicators suggesting further bullish potential.
XLM price forecast: A 27% correction may occur if the support level of $0.41 is lost.
Stellar's EMA lines have recently formed a golden cross pattern, a bullish signal that occurs when the short-term EMA crosses above the long-term EMA.
This technical signal suggests the potential for maintaining the bullish trend. If the current upward momentum continues, the price of Stellar could test the resistance level of $0.47. If a successful breakout occurs, the next target will be $0.50, marking an increasingly optimistic sentiment.
XLM/USDT 4-hour chart | Source: TradingView
However, if the bullish trend weakens, the price of XLM risks falling below the nearest support level at $0.41. Failing to hold this level could lead to a sharp decline, with the next support at $0.31, equivalent to a 27% correction.
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