Stellar (XLM) surged more than 14% in the past 24 hours. The move reclaimed the midline of its long-term parallel channel. Price also broke above a key descending trendline.

The Layer 1 network is now trading near $0.169 with a market capitalization above $5.6 billion. Multiple charts point to follow-through. X traders are already calling for a path to $0.60 on the weekly timeframe.

The four-hour XLM chart shows a clean break above a descending trendline. That trendline ran from the April 21 swing high near $0.185. The move came on a sharp volume spike. The largest green candle of the recent range pushed price back above $0.165.

The Relative Strength Index (RSI) reads close to 75. That sits in overbought territory and suggests the rally may be short-term extended. The Moving Average Convergence Divergence (MACD) histogram prints rising green bars. That signals expanding bullish momentum.

A pullback into the $0.165 area would give buyers a more measured entry zone. If sellers push the price below the channel midline, the support band at $0.14 to $0.15 becomes the next test. That level previously triggered the current leg of the Stellar rally.

The daily chart adds structural weight to the breakout. XLM reclaimed the midline of a parallel channel that has framed price action since early February. The move followed a strong bounce from the support band at $0.14.

Two consecutive green candles confirm the shift in tone. Yesterday’s session added roughly 11%. The current daily candle prints another tall body. That move lifts the price back to the upper edge of the channel.

RSI on the daily timeframe broke its own descending resistance trendline. The signal points to strengthening momentum rather than fading interest. The Bollinger Band Width Percentile (BBWP) reads at extreme highs, which often coincides with the early stages of trend expansion.

The next resistance sits at $0.18, the upper band of the channel. A clean break opens the path to $0.20. The heavy supply zone near $0.25 stands as the next major target. A close back below the midline would invalidate the immediate setup. That outcome would put $0.14 back in play and echo previous XLM range failures.

Stepping out to the weekly chart widens the lens. XLM trades on a horizontal support that dates back to 2021. That same level anchored the consolidation between 2022 and 2024. The current bounce mirrors the structure that preceded earlier rallies on Stellar.

Trader PacquianPrime framed the setup as a textbook reversal pattern.

“$XLM just painted the path to $0.60. Weekly chart looking clean. Broke structure, retested, and now the liquidity sweep above is calling. $0.6 incoming. Not financial advice, but the chart doesn’t lie.”

The upside band drawn on the weekly chart sits between $0.50 and $0.60. That zone marks the prior breakdown area from late 2024. The level becomes a likely magnet for a longer-term liquidity grab. The thesis depends on the current weekly support holding through any short-term retracement.

The convergence of signals across the three timeframes leaves XLM with a clear playbook. Bulls keep control while price holds above the channel midline near $0.165, and $0.18 stands as the first immediate test.

A failure to defend the $0.14 support would shift the story back to range-bound trading. For now, the breakout structure remains intact, and the weekly chart keeps the door open for a much larger move.

The post XLM Jumps 14% as Stellar Reclaims Long-Term Channel Midline appeared first on BeInCrypto.

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