XLM price struggles against bearish pressure near $0.3700 as sellers push fresh lows to $0.3560
Stellar’s XLM is trading around $0.3789, with bulls fighting to keep the price near the key support area at $0.3800. Over the past 24 hours, XLM has dropped about 4.72% and could decline further if sellers maintain downward pressure.
There remains a possibility that buyers will defend the $0.3700 area, which could attract additional demand and spark a stronger recovery for XLM/USD toward critical resistance levels at $0.4060 and $0.4400.
Stellar (XLM) price outlook
XLM/USD has been under increased selling pressure since the February peak near $0.61. The short-term technical picture points to a bearish breakout after bulls failed to clear the $0.4000 resistance over the weekend. Sellers pushed the price below a long-term bullish trendline on the daily chart.
The pair is also trading near the apex of a descending triangle, a formation that commonly signals downward continuation.
Daily momentum indicators, including RSI and MACD, suggest bears remain in control and could press for further losses in the coming days.
If the short-term bearish outlook persists, Stellar could slip further below $0.3750. Primary support sits near the horizontal $0.3410 level. Should selling intensify and push the price under $0.3400, the next significant support area would be the 100-day simple moving average, currently around $0.3066.
On the 4-hour chart, Stellar has again fallen below the 100 SMA (around $0.4091). The pair also broke a descending trendline and the $0.3700 support, forming lows near $0.3560.
The MACD on the 4‑hour chart indicates XLM/USD faces a tough task to regain upward momentum, as the indicator sits below its signal line and remains in bearish territory. The 4‑hour RSI also favors sellers, trading below its midpoint and currently near 32.70.
If the price remains at these low levels, the next target could be $0.33, near the 1.618 Fibonacci extension of the decline from $0.4405 to $0.3743. Continued losses would increase selling pressure and could push XLM/USD toward the decisive $0.3000 area.
Conversely, if bulls hold the price above $0.3700 and break the 0.786 Fibonacci resistance near $0.3884, a renewed uptrend could begin. To confirm upside momentum, buyers would need to clear $0.4074, the 0.5 Fibonacci retracement of the noted decline. Above that level, the next targets would be $0.4249 and then $0.4400.