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🚨A brief analysis of the resistance at US$ 0,50 of the Stellar XLM token

👉🏼In the last month, the Stellar XLM token has shown a performance of over +83.4%. This is one of the most notable rises among mid-cap coins, meaning those outside the top 10. However, this explosive performance contrasts with the strong resistance the coin faces at US$ 0,50.

This level has established itself as a crucial turning point for the future price of the token and for market sentiment. So far, in July, Stellar has recorded a high of over 100%, driven by factors such as the integration of payment services and the expansion of its ecosystem.

📈The price peaked at US$ 0,50 before undergoing a slight correction, although interest and buying volume remain high. By the end of 2024, the coin also showed a strong increase that took it to US$ 0,56 per token. However, this peak was short-lived and soon fell below this psychological ceiling.

Now, recent history seems to be repeating itself, and the Stellar (XLM) token has failed to sustainably break through the mentioned resistance level. At the time of writing this text, the coin's price is at US$ 0,457, down 2.4% in 24 hours.

The positive performance of the XLM token has not been enough to break the barrier of US$ 0,50.

Some technical factors behind the current price of the XLM token

From a technical standpoint, the recovery of the XLM price has been supported by several interesting factors. The first was the breakout of previous bearish patterns, such as the descending triangle and the descending wedge, which reached levels close to US$ 0,24 and US$ 0,32.

For the XLM token to build confidence in new local highs, it needs to first consolidate above this price. Until that happens, the probability of exhaustion and withdrawal from investors increases. Recent data shows that after the US$ 0,50 limit was surpassed, investors hesitated, triggering a rapid correction.