Stellar (XLM) price has skyrocketed 459% in the last 30 days, capturing significant market attention. Despite this rally, the RSI has cooled to 50.5, suggesting neutral momentum after a brief period of overbought conditions in late November.

Meanwhile, XLM faces key resistances at $0.53 and $0.56. Its EMA lines still show bullish patterns but hint at weakening short-term momentum. The Ichimoku Cloud suggests a potential shift in sentiment.

XLM RSI Is In the Neutral Zone

Stellar RSI currently sits at 50.5, dropping from 64 just a day earlier. Between November 21 and November 24, the RSI remained above 70, coinciding with XLM’s price reaching its highest level since May 2021.

This period of overbought conditions highlighted strong bullish momentum before the recent cooldown.

The RSI, or Relative Strength Index, measures the speed and change of price movements, offering insight into whether an asset is overbought or oversold. RSI values above 70 typically indicate overbought conditions and the potential for a pullback, while values below 30 suggest oversold conditions and possible price recovery.

With XLM RSI now at 50.5, it reflects a more neutral stance, indicating a balance between buying and selling pressure. This could mean the price is consolidating, awaiting further market cues to define its next move.

Stellar Ichimoku Cloud Shows the Current Sentiment Could Be Shifting

This Ichimoku Cloud chart for Stellar shows price action currently positioned near the cloud, indicating a potential test of support.

The leading span (green and red shaded area) reflects a neutral to slightly bullish trend. The cloud is relatively flat but still offers support around the $0.50 level

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Author: Tiago Amaral