After a prolonged downward trend, the XLM token on the Stellar network has transitioned into a more stable price pattern. Analyzing the 12-hour chart reveals that XLM, long under pressure, ha
After a prolonged downward trend, the XLM token on the Stellar network has transitioned into a more stable price pattern. Analyzing the 12-hour chart reveals that XLM, long under pressure, has established a base between clearly defined support and resistance levels. Early technical indicators now hint at a potential recovery, which appears to be reinforced by recent developments within the Stellar ecosystem offering a more positive long-term outlook.
Data shows that following a lengthy period of decline, XLM entered a multi-month accumulation phase. During this time, the price remained below its declining moving average, finding support near $0.14 and encountering resistance around $0.18.
This period of horizontal trading has been interpreted as a sign of waning selling pressure. It also suggests the possibility of larger market participants stepping in to buy. With the breakout above the $0.18 zone and the long-term moving average, XLM’s price surged sharply toward $0.30.
As the market cooled, the area between $0.18 and $0.19, previously a resistance, was repeatedly tested as support. This shift from resistance to support reveals increasing strength among buyers and signals an overall improvement in the market structure compared to previous conditions.
Citing the current price action, crypto analyst Sjuul | AltCryptoGems notes that XLM could maintain its upward momentum if it stays above key support levels and the moving average.
The analysis highlights that holding the $0.18 to $0.19 band is critical in confirming the breakout’s validity. Should the price move above $0.22, the $0.26 to $0.30 range could become relevant targets. On the other hand, losing support might weaken the positive outlook and pull the price back into its former trading range.
According to TradingView, the relative strength index (RSI) for XLM stands at 60.13, with its moving average resting at 53.16. The RSI staying above 50 suggests that buyers retain at least a modest advantage in the market.
Importantly, the RSI has not broken above 70, indicating positive momentum exists but has not reached overheated or unsustainable levels. Meanwhile, the MACD at 0.00646 remains below its signal line at 0.00726. Although the histogram is still negative, bars are narrowing, and the MACD line is turning upward, raising the potential for a bullish crossover in the near future.
On the fundamental side, it was announced that Zebec is rolling out its payroll solution on the Stellar network. As an open-source blockchain, Stellar is well known for facilitating cross-border payments and asset transfers. Zebec’s move is expected to bolster enterprise payments, offering faster settlement, enhanced operational efficiency, and automation.
Mini glossary: Zebec Payroll is a payroll solution designed to allow companies to make employee payments quickly and programmatically using blockchain infrastructure. The main point highlighted in the article is its integration with the Stellar network, which could expand the use of blockchain in corporate payments.
The article notes that some companies have started testing this new payment infrastructure, attracted by its speed, compliance features, and reliability. These early use cases could reflect rising confidence in blockchain-based payroll systems and, over time, may boost overall adoption within the Stellar ecosystem.
The post XLM climbs from $0.14 to $0.30 after multi-month low appeared first on COINTURK NEWS.
