Buyers attempt to stabilize price as resistance holds near $0.42 and $0.48
Stellar (XLM/USDT) is showing signs of resilience as it defends a critical support zone around $0.36, despite recent bearish pressure that has kept the token pinned below key resistance levels. At the time of writing, XLM trades near $0.3639, with 24-hour trading volume recorded at 5.04 million, reflecting steady participation from both buyers and sellers.
The price chart highlights a sharp decline from August highs, where the token faced repeated rejection in the $0.42–$0.48 resistance zone. The consolidation of supply in these regions has made upward momentum difficult to sustain. However, the green support band between $0.34 and $0.36 has once again proven strong, preventing deeper losses and attracting short-term buying interest.
BITX Market analysts point out the importance of this level. “The $0.36 support is critical for Stellar. A sustained defense here could lay the groundwork for a recovery back toward $0.42, while a breakdown risks accelerating losses to the $0.32 region,” BITX market strategist noted.
The chart also reflects a previous falling wedge breakout, which had provided bullish momentum earlier in the quarter. Yet, failure to build on that rally underscores lingering weakness in demand. According to BITX analysts, “Unless XLM clears $0.42 with conviction, upside attempts may remain capped, leaving the token vulnerable to sideways trading or further pullbacks.”
Still, the consistent defense of lower levels suggests underlying demand. The green zone marks a region where long-term buyers have historically stepped in, keeping Stellar from sliding into prolonged declines. As long as this base holds, short-term rebounds remain a possibility.
For now, the market outlook hinges on whether buyers can absorb sell pressure and push through immediate resistance levels. A breakout above $0.42 would likely shift sentiment bullish, while failure to hold $0.36 could invite further weakness.
In summary, XLM/USDT sits at a decisive turning point, with the $0.36 zone acting as the battleground between bulls attempting to defend the range and bears pressing for continuation of the downtrend.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.