Stellar (XLM) has been trading inside a descending channel since late December 2024. After a strong rally toward $0.45 in December, the price began to trend downward, forming lower highs and lower lows for several months.
By mid-April 2025, the XLM price dropped to a key support zone between $0.22 and $0.24. That area has held strong multiple times before, including just ahead of the major breakout in November. Once again, it acted as a reliable base, XLM bounced more than 15% from that low and is now trading at around $0.2702 at the time of this post.
Right now, the price is pressing up against the upper boundary of the descending channel, which sits around $0.28 to $0.29. That zone has acted as resistance several times before, and once again, it’s putting pressure on the price. Today’s daily candle shows a rejection wick at the top, which signals possible selling interest at that level.
So, it’s a key moment for Stellar. If the price fails to break above $0.29 with volume, it could fall back to the lower part of the channel again. But if Bitcoin price continues to show strength, currently holding around $94,000, a clean breakout could trigger a bullish shift.
