according to the materials from the site - By CoinCryptoNewz
Stellar (XLM) demonstrated a sharp increase in momentum after breaking through a prolonged descending parallel channel that lasted several months. Analyst Ali Martinez reported that XLM broke this channel, hinting at a possible trend reversal.
The breakout led to a rise above the resistance level of $0.30, and the token is currently trading around $0.39301. The bullish trend reflects a daily increase of 16.04% during the initial phase of the breakout.
The chart shows that the next main target for growth remains $0.45, which coincides with the Fibonacci retracement level of 0.786, which often signals a continuation of the trend in technical analysis.
Martinez emphasized that a confident close above $0.36 will serve as additional confirmation of the breakout, opening the way to $0.45.
CoinGlass data shows an increase in net outflow of XLM from exchanges at the beginning of July. Numerous green bars on the chart demonstrate a steady trend of outflow, indicating growing long-term accumulation. The timing of this outflow coincides with the price increase of XLM from a level below $0.20 to over $0.33.
Historically, similar trends preceded price increases of XLM. The net outflow indicates a decrease in short-term selling pressure and an increase in investor confidence. This accumulation dynamics confirms the current bullish sentiment and supports the view of a possible continuation of growth.
XLM is currently trading at $0.39301, showing a small intraday gain of 0.36%. The price has entered a consolidation phase near the resistance level of $0.41900. Analysts note that a breakout of this zone may trigger a move toward the target level of $0.44907.
On the other hand, immediate support is at the level of $0.37054. If bearish momentum increases, short-term targets include $0.34661 and $0.32776.
The structure suggests that price movement near the resistance level of $0.41900 will be crucial. A decisive breakout may extend the bullish trend, while a rebound may lead to a temporary correction.
CoinCryptoNewz previously reported that PayPal announced plans to launch its stablecoin PYUSD on the Stellar network. This move is part of a broader PayPal PayFi initiative aimed at enabling faster and cheaper cross-border money transfers and easier access to working capital. The launch awaits approval from the New York State Department of Financial Services (NYDFS).
The Stellar blockchain will support PYUSD in over 170 countries, expanding reach and strengthening the network's focus on financial accessibility. This integration has heightened investor interest in XLM as it enhances the network's functionality for real payment applications.
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