Stellar(XLM) price prediction: July rise over 30%, after reaching 0.3 USD, what will be the future trend?

Stellar (XLM) performed well in early July, rising 31% since July 2nd. After successfully holding the local demand zone at $0.22, XLM's strong rebound has attracted attention in the market. Although Bitcoin (BTC) has reached new highs and bullish sentiment is high across the crypto market, there may be fluctuation risks in the short term, and traders need to carefully assess risks and choose an appropriate holdings size.

Gate market shows that XLM is currently at 0.30544 USD, with a 24-hour rise of 2.76%.

XLM Price Pullback: Support Level Tested Again

The weekly chart of XLM shows that after a rapid rebound in November, the price has experienced a noticeable pullback. This pullback reached the 78.6% Fibonacci retracement level in April, with the price hitting $0.207. In early July, XLM approached this support level again, reaching a price of $0.217. However, since then, the strong performance of XLM suggests a possible rebound may be on the horizon.

Nevertheless, the weekly chart still shows a bearish market structure, and only a price breakout above $0.334 and a close above this level will confirm a bullish reversal signal. Before that, traders should expect the market to consolidate in a range.

Long-term investors may consider accumulating XLM

For long-term investors, the recent pullback may indicate that XLM has entered a consolidation phase, so investors may consider accumulating XLM in a timely manner.

$0.3 psychological barrier: XLM bulls' challenge

The 1-day chart for XLM shows that its performance in July was quite bullish. The price broke through the resistance level of $0.245 and has risen by 20.1% since July 7. The CMF indicator broke above +0.05, reaching +0.23, indicating strong buying pressure. Meanwhile, the Awesome Oscillator also showed a bullish crossover, breaking above the zero line, indicating a shift in momentum.

However, this is not the time to enter a bullish position. The 1-day chart shows that the price range from $0.295 to $0.32 forms a bearish order block (red box). Therefore, traders who are already holding long positions may consider taking profits in a timely manner within this range.

Short-term bullish, but confirmation is needed

If this resistance zone can successfully turn into support, then short-term swing traders may consider going long again. However, the current trend of Bitcoin may dominate the market rebound. As Bitcoin reaches new highs, its price may need to cool off first and form a consolidation range in the short term, after which other altcoins may have the opportunity to catch up with Bitcoin's performance.