Peter Smith
Stellar (XLM) trades near $0.41 after hitting resistance twice at $0.50, with analysts watching critical support at $0.33 and deeper backup at $0.22.
XLM Price Struggles Against $0.50 Resistance Wall
Stellar (XLM) is currently trading around $0.4069, down 4.10% on the day. The digital asset has been stuck in consolidation mode after repeatedly bouncing off the $0.50 resistance level, where sellers have consistently stepped in to block further upside momentum.
Chart analysis from @ali_charts on X shows XLM has now failed twice to break through this crucial barrier, creating a clear pattern of rejection that's keeping bulls on the sidelines. Until buyers can reclaim the $0.50 level with conviction, Stellar looks destined to remain range-bound in the near term.
Critical XLM Price Support Zones Define Next Move
Two key support levels will determine Stellar's next direction. The immediate safety net sits at $0.33 – a level that previously acted as a breakout point back in July and could now serve as a launching pad for recovery attempts.
Should selling pressure intensify and push XLM below $0.33, the next major test comes at $0.22. This deeper support zone has proven its strength historically, but a breakdown here would likely trigger more significant corrections.
For now, traders are keeping a close eye on whether Stellar can defend the $0.33 level and potentially set up another run at cracking that stubborn $0.50 resistance barrier.
Peter Smith
