Eseandre Mordi
⬤ Stellar (XLM) shows early signs of recovery after weeks of decline and it now holds near $0.25. Market analysis indicates that the price might advance to $0.34 if buyers return in larger numbers. The chart shows XLM moving away from recent lows and shaping a possible short term recovery.
⬤ Price movement has tightened after months of drops from the $0.42 plus $0.34 resistance zones, a decline that weighed on Stellar through the second half of the year. XLM rebounded from support close to $0.23, a level that earlier drew strong buying interest. Chart projections point to a gradual rise toward $0.29, with $0.34 set as the main recovery objective.
The $0.34 level may emerge as a key upside target if momentum continues to build.
⬤ Stellar's broader structure shows repeated failure to hold gains above mid range levels, especially after the sharp July rally. The market surrendered most of those gains, fell back to lower support and is now attempting the present bounce. Although the major trend stays down, price action has improved - XLM tries to retake short term ranges that would allow further upside if buyers remain active.
⬤ This recovery attempt carries weight because a move to $0.34 would signal better sentiment and could turn the short term trend upward. Achievement of that target would give Stellar a healthier market structure - yet a loss of current support would underline continued weakness across the crypto space.
Eseandre Mordi
