Key Points
- XLM is trading above $0.24 after gaining 2% in the last 24 hours.
- The cryptocurrency is eyeing a breakout as the Stellar blockchain reaches a new all-time high in TVL.
Stellar TVL Reaches a New All-Time High
XLM posted modest gains over the past day, adding about 2% to its price. After a two-day rally that pushed it up more than 10%, the token is now trading above $0.24.
This positive price action coincides with a fresh milestone for Stellar’s Total Value Locked (TVL). Data from DeFiLlama show XLM’s TVL hit a new all-time high of $169.30 million on Tuesday.
The TVL increase points to rising activity and interest in the Stellar ecosystem, with more users depositing assets and engaging with XLM-based protocols.
On-chain metrics from CryptoQuant also lend support to the bullish outlook: spot and futures markets reveal sizable whale orders and a buying-dominant stance, which could fuel a short-term rally.
XLM Targets $0.28 in the Near Term
The XLM/USD 4-hour chart has shown a constructive move as Stellar Lumens gained over 2% in the last 24 hours. The coin found support near the weekly support level of $0.221 last Friday and has since climbed more than 10%.
XLM is currently trading around $0.248, close to the 38.2% Fibonacci retracement level at $0.256, which represents a key resistance zone.
If XLM breaks above the $0.256 resistance, it could head toward the 50-day Exponential Moving Average (EMA) near $0.292 in the coming hours or days.
The 4-hour Relative Strength Index (RSI) sits at 54, above the neutral 50 mark, indicating a weakening bearish trend and growing bullish momentum. For the rally to sustain, the RSI will need to push further toward overbought territory. Meanwhile, the MACD produced a bullish crossover over the weekend, signaling a buying opportunity and reinforcing the bullish case.
That said, a corrective move could still occur. If XLM reverses, downward pressure could extend toward the weekly support level around $0.221.