Stellar (XLM) price has surged 12% in the last 24 hours, with its trading volume climbing 163% to $1.64 billion. Technical indicators like the RSI and Ichimoku Cloud show strong bullish momentum, signaling a potential continuation of the current uptrend.

With its EMA lines also reflecting a positive setup, XLM is approaching key resistance levels near $0.485. If broken, this could push the price above $0.5 for the first time since December 7. However, if bearish pressure emerges, critical support at $0.43 will need to hold to avoid a potential correction toward $0.38.

XLM RSI Confirms a Strong Buying Pressure

Stellar RSI is at 65.7, retreating slightly from 71.9 earlier today but rising sharply from 37.3 two days ago. This indicates strong buying momentum, with the RSI now in bullish territory, though close to overbought levels.

The RSI measures price momentum on a scale of 0 to 100, with values below 30 signaling oversold conditions and above 70 indicating overbought levels.

At 65.7, XLM RSI suggests continued bullish momentum, but caution is warranted as further gains could push it into overbought territory, increasing the likelihood of a correction.

Ichimoku Cloud Shows Stellar Is Building a Bullish Setup

Stellar Ichimoku Cloud chart shows a bullish breakout. XLM price is now trading well above the green Kumo (cloud).

The Senkou Span A (green line) is above Senkou Span B (red line), signaling a bullish cloud setup that supports the upward momentum. The cloud’s thickness indicates moderate support, providing a stable base for the current trend.

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Author: Tiago Amaral