Usman Salis
Stellar (XLM) has been catching traders' attention after finding solid footing at a critical support zone. Following weeks of bearish pressure that dominated August, the cryptocurrency appears to be mounting a defense at $0.35, sparking discussions about a possible trend reversal heading into September.
XLM Price Outlook Backed by Traders
The recent bounce from $0.35 has drawn attention from market participants, with analyst @Olivia_Jane305 among those highlighting the potential setup. Currently trading at $0.3572 (down 1.16% daily), XLM's price action suggests buyers are stepping in at this level.
Technical projections point toward an initial target of $0.42, with potential extension to $0.48 if bullish momentum develops. These setups often catch markets off guard - after prolonged downtrends, reversals can move faster than expected once they gain traction.
Stellar (XLM) Price Technicals: Key Levels to Watch
The 4-hour chart reveals XLM consolidating around its support base, with clear resistance markers ahead. The immediate hurdle sits at $0.38, followed by the more significant $0.42 level. A break above these zones could open the path to $0.48.
However, losing the $0.35 foundation would shift the outlook bearish and potentially trigger further declines. For now, this level appears to be holding firm.
Why September Could Be Crucial for XLM Price
Several elements support the bullish case - the $0.35 support has proven resilient, showing genuine buyer interest. Chart patterns indicate upside potential toward $0.42-$0.48 if momentum builds. Market sentiment is shifting more positive after the recent bounce, and XLM historically performs well during trend reversals following extended selloffs.
Will Stellar (XLM) Flip Bullish?
Stellar's defense of $0.35 support creates an interesting setup for September. A successful break above $0.42 resistance could signal the start of a broader recovery toward $0.48.
The next few trading sessions will determine whether this technical pattern delivers on its promise or requires more time to develop. XLM holders are watching closely as the cryptocurrency attempts to shift gears after weeks of downward pressure.
Usman Salis
