• XLM’s price is at $0.42, with a 2.36% rise over 24 hours, but a 7.53% drop in the past week.
• A breakout at $0.681 could lead to a 64% rise in XLM, with the potential for the price to surge to $1.29.
• With an RSI of 53.16, the market remains neutral, while the MACD indicates a possible shift toward bullish momentum.

As of press time, Stellar (XLM) is trading at $0.42, showing a 2.36% increase over the past day. The trading volume for the same period stands at $13.15 billion, reflecting a 1.99% decrease. Over the past week, the XLM price has gone down by 7.53%.

Source: CoinMarketCap

XLM Breakout Target

Javon Marks, a cryptocurrency analyst, has marked a breakout target of $0.681 on XLM. It indicates that the coin might increase by 64% more especially over its current point. A break above this resistance level may see the coin propel the price to $1.29. Marks thinks that this is a growing possibility, and XLM has steady support.

Source: X

Also Read: ONDO Price Action Signals Upside Potential, Eyes $1.25 Level

The Relative Strength Index (RSI) of XLM is 53.16, indicating that the coin is in a neutral position. The RSI is not oversold or overbought, indicating that the market is balanced. When the reading is above 50, this is usually an indication of positive momentum, which can push the value higher.

The Moving Average Convergence Divergence (MACD) figures of XLM are more ambiguous. MACD line is a 0.0009, whereas the signal line is -0.0023, and the histogram value is showing -0.0032. These figures point to a slight lull in momentum, not a sharp decline. The MACD may change towards a more bullish mode in case of a breakout above the existing resistance.

Source: TradingView

On-Chain Data Signals Confidence

On-chain data also evidence the favourable projection. CoinGlass data shows that the volume of tokens declined by 33.52% reaching a high of $938.33 million. The open interest is also down by 4.39% and amounts to $384.89 million. Nonetheless, the OI-Weighted Funding Rate stays positive at 0.0104%. This shows that investors are not running out of their positions as they still trust the future of Stellar.

Source: CoinGlass

Stellar is close to breaking important resistance lines, which could result in a burst soon. A break above $0.681 will open the door to even more gains. The RSI and MACD are also signals of an upward trend, which traders should monitor. Like in any cryptocurrency, it is always important to remain updated in order to take advantage of any price fluctuations.

Also Read: XLM Nears $0.50 As Open Interest Increases By 5.86%