Stellar (XLM) Targets $0.50 After Holding $0.39 Support
Stellar XLM continues its bullish momentum, forming consecutive higher highs and higher lows. The key support at $0.39 has held firm, preserving the uptrend structure. Sustained acceptance above the point of control (POC) reflects healthy bullish volume and paves the way for a test of the $0.50 value area high. If buyers defend $0.39 on a closing basis, Stellar XLM could break above $0.50 and extend to new local highs. Conversely, a close below $0.39 risks a deeper retracement within the range. Market Auction Theory supports a rotation from the value area low to the high once POC acceptance is secured, reinforcing a bullish outlook for traders.
Bullish
The article highlights firm defense of the $0.39 support and sustained acceptance above the point of control, underpinned by healthy volume. Historically, when assets like Bitcoin held key supports and accepted POC levels, they often rallied to test higher resistance—mirroring the current XLM setup. In the short term, this suggests a push toward $0.50 with potential extension on breakout. Long term, continued buyer conviction above $0.39 and the value area high will determine trend strength. Overall, technical confluence, volume profile, and market structure all point to a bullish scenario.