Key Insights:
- The price of XLM went above $0.30 resistance, confirming that bulls control the market with increasing highs.
- Trading volume dropped 25% in 24 hours, yet XLM price held above $0.29, signaling steady buyer support.
- May saw liquidation spikes on both sides as XLM surged from $0.27 to $0.33, showing high market volatility.
Stellar (XLM) has broken a key resistance level that traders had been watching for several weeks. After struggling to move above the $0.30 zone, the cryptocurrency finally cleared this barrier with strong buying pressure.
This technical breakout has led to increased market interest and talk of a possible move toward higher price levels, including a long-term target near $1.29 based on past cycles and chart patterns.
Breakout Above $0.30 Shifts Market Structure
On the 4-hour chart of XLM on Binance, the price dropped during early April. The bearish period was marked by a downward trendline. Things changed at the end of April when the price jumped above the trendline. After the breakout, XLM overcame the resistance at $0.30. The confirmation came when this level was retested and proved to be working as support.
If the market breaks out of an area and returns to it, it often demonstrates strong movement. After being confirmed, XLM grew to $0.34, but after that, it went through a brief decline. With lower lows being replaced by higher highs, many traders are now changing their short-term strategies.
Since $0.30 has supported the price so far, investors are looking at the possibility of making long positions in DRGN. A drop in prices below here could lead to a decline in the new trend.
Trading Volume Falls but XLM Price Holds Gains
According to CoinMarketCap, XLM is currently priced at $0.2909, reflecting a modest 0.24% increase in the last 24 hours. The market cap is $9.04 billion, while there are 31.06 billion tokens currently in circulation.
With a total supply of 50 billion units, XLM has a fully diluted worth of $14.54 billion. The high numbers reflect that this project plays an important role in the industry.
The amounts traded in the last day dropped by over two and a half times, leaving current volume at $144.69 million. It demonstrates that a smaller number of short-term traders are involved in the market.
According to the ratio, Uniswap’s activity is moderate in relation to its total size. Once the price fell to $0.285, it soon recovered, which added to the bullish sentiment.
Long-Term XLM Price Chart Shows Key Historical Zones
The monthly chart on Coinbase demonstrates that Stellar has enjoyed two strong uptrends. In the beginning of 2018, EOS touched a price close to $0.90. This happened in 2021, when XLM reached its all-time peak of around $0.80.
After the high points, there were long periods of downward movement. The most recent bottom came in 2024 when the price touched $0.07.
Since that low, XLM has gained nearly 7.4% over the past month. It is now trading around $0.2910. The current move appears to be forming a price base above the $0.25 to $0.30 range.
This zone could act as a launchpad for future gains. However, resistance still stands in the $0.40 to $0.50 area. A break above this band is considered important for a continued upward move.
Liquidation Data Shows Increased Market Activity
CoinGlass data shows that both long and short liquidations have increased during May. On May 9, long positions were wiped out after a sharp drop in price.
This event suggested that many traders expected the price to keep rising without interruption. A few days later, a sharp price recovery triggered liquidations on short positions as the price moved past $0.30.
A rise in liquidations from both directions means there is a lot of volatility in this market. In just a few hours, XRP’s price climbed from $0.27 to $0.33.
This type of trading leads to forced liquidations that add to fluctuations in the prices. This data reflects that both buyers and sellers are competing aggressively.
This situation gives chance for growth, but it also adds dangers. Swings in the market often They can result in setting stop-loss orders and seeing prices reverse quickly. Following liquidations gives traders an idea of which market groups are under pressure.
The market is now watching the $0.30 level closely, because for now, it is a major zone.