Stellar (XLM) surged by over 9% and emerged as among the top gainers after the wider crypto market recovered over the last 24 hours. This price jump has not only helped it outperform major assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), but it has also opened the door for further upside potential in XLM.
At the time of writing, XLM was trading at $0.1802. Not only has the price increased, but strong market participation has also been seen, as reflected by XLM’s trading volume. It surged by over 49% to $217 million over the same period.
This hike in volume might reinforce XLM’s latest upside since it suggested that investors and traders may be interested in the prevailing trend. It is in this context that recently, a popular crypto expert, shared a post on X stating – “XLM has reached its first sell wall.” As expected, this post has raised questions about the crypto’s recent gains.
XLM price action and key levels to watch
On the daily chart, XLM appeared to be bullish as it broke out of the key resistance level of $0.18 – A level that had been holding firm since 1 February 2026. In the past, the crypto has previously attempted to breach this level. However, it failed to sustain the move, resulting in sharp declines across the board.
The altcoin’s press time price action suggested that XLM’s breakout can only be confirmed if it closes a daily candle above the $0.18-level. If this happens, the asset could see a price uptick of 14% and may reach the $0.21 level in the coming days. However, if it fails to close a daily candle above this key level, history may repeat itself, and a downside move could occur.
Meanwhile, the technical indicator Relative Strength Index (RSI) stood at 61.01, indicating that XLM may be approaching the overbought zone.
Are derivative tools turning bullish?
Finally, despite the price being at a make-or-break level, intraday traders seemed to be placing bullish bets.
Data showed that $0.1741 and $0.1831 were two major liquidation levels on either side, where traders built $1.49 million worth of long-leveraged positions and $917.85K worth of short-leveraged positions. These bets hinted at the dominance of XLM bulls in the face of bears possibly losing momentum.
The data further showed that traders have been increasingly taking long positions, with XLM’s Open Interest (OI) surging by 35.97% in 24 hours to $120.55 million. This alluded to a significant buildup of leveraged long positions and growing bullish conviction.
Also, CryptoQuant revealed that the average order size in the spot market has been trending upwards over the past few days – A sign of consistent participation from whales and large investors.
Final Thoughts
- Stellar (XLM) jumped by 9.25% in 24 hours, outperforming major assets like BTC, ETH, and SOL.
- Price action at a make-or-break level, and a daily candle close above $0.18 could trigger a further 14% price rally.
