Stellar faces a crucial test of trendline support after repeated rejections at $0.45 resistance.
Trading volume has tapered but remains steady, signaling underlying market interest.
September may decide whether XLM targets $0.55 or revisits $0.32–$0.34 accumulation zone.
Stellar (XLM) continues to test support of trendline on its way down but rather unsuccessfully trying to overcome resistance at $0.45. This test result may define its trajectory in September as to whether the market will be pushed higher or will drop into zones of low demands.
Trendline Support and Resistance Tests
The chart structure shows Stellar’s ongoing respect of its ascending trendline since late June. This trendline has guided the broader uptrend and continues to act as a key reference point. The confluence with the 50-day simple moving average at $0.3983 and the 9-day exponential moving average at $0.4155 strengthens its importance.
According to Alpha Crypto Signal (@alphacryptosign), $XLM is now retesting this support zone after repeated rejections near $0.45. The repeated stalls highlight the strength of this ceiling, which has capped momentum throughout August.A successful defense of the trendline can accord a bounce back to this resistance region.
Should price action break the barrier, then a breakout might propel gains in September to the high of 0.50-0.55. The action would indicate completion of the larger bullish trend, which is shaping up since June.
Market Volume and Trading Behavior
Market statistics reveal that the number of trades raged high in June when the market went on a strong uptrend but has since reduced. The current prices have been relatively stagnant indicating that although the speculative interest has tempered there is no total loss of interest. This aligns with a typical consolidation period before stronger moves emerge.
Low-volume pullbacks into support often provide conditions for renewed demand. If buyers step in at this level, market momentum could quickly return. The steady participation is important as it reflects both short-term traders and longer-term accumulation interest.
In the last 24 hours, XLM plunged by 1.77% to increase the 10.19% loss that it experienced in the past week. Irrespective of these pullbacks, the overall structure is exhibiting greater support levels retaining strength unlike in previous months.
Potential Scenarios Ahead
Provided Stellar continues the trendline, it is still likely that it will rebound at the resistance of $0.45. A break above would validate market strength and set out the road to subsequent resistance levels.
Negatively, failure to hold the trendline would result in price returning to levels of $0.32 - $0.34. This level was a consolidation level in late June and thus an area where buying interest may resume.
Market watchers note that September could become the decisive month for Stellar. Either it secures the “fast lane” to higher levels or retests the lower demand zones before mounting another attempt upward.
