Stellar reclaims channel midline, jumps 14% toward $0.60

Stellar (XLM) rose about 14% in the past 24 hours to roughly $0.169, reclaiming the midline of a long-term parallel channel and breaking a descending trendline. Market capitalization rose above $5.6 billion following the price increase.

On the four-hour chart, price cleared a descending trendline that began at the April 21 swing high near $0.185. The breakout occurred with a spike in trading volume and a large green candle that pushed price back above about $0.165. The four-hour Relative Strength Index is near 75, and the MACD histogram shows rising green bars indicating expanding bullish momentum.

A pullback into the $0.165 area would offer a lower entry point for buyers. If price falls below the channel midline, the $0.14 to $0.15 support band becomes the next reference level; that band underpinned the most recent bounce.

On the daily chart, XLM reclaimed the channel midline after bouncing from the $0.14 support band. Two consecutive green daily candles preceded the latest advance and the current daily candle printed a sizeable body. The daily RSI broke a descending resistance trendline and the Bollinger Band Width Percentile is elevated. Immediate resistance sits near $0.18; a clear break above that level would open a path to $0.20, while a heavier supply zone is around $0.25.

On the weekly timeframe, XLM sits on a horizontal support level that dates to 2021 and anchored the 2022-2024 consolidation. A trader known as PacquianPrime posted on social media that the weekly chart had broken structure and retested, and highlighted a target band between $0.50 and $0.60.

Traders monitoring multiple timeframes note that price holding above the channel midline near $0.165 keeps the current structure in place. The immediate test is $0.18; failure to defend $0.14 would likely return XLM to range-bound trading.