As the broader market begins to recover, Stellar (XLM) surged over 8% and opened the door for further gains.
The key factors currently reinforcing the asset’s bullish momentum appear to be a bullish breakout on the daily and weekly charts, as well as a notable increase in network activity.
Data from CoinMarketCap shows that the price of XLM surged by over 8.75% in the last 24 hours and was trading at the $0.1805 level at press time.
Not only did the price increase significantly, but the market also showed strong interest in the asset, with XLM’s trading volume surging over 35.25% to $147.58 million during the same period.
The increase in volume alongside rising prices suggests that market participants, including traders and investors, may be increasingly interested in the current trend.
Stellar Price Action Eyes 15% Rally
On the weekly chart, XLM appears to have broken out of an extended descending channel pattern in place since July 2025.
Not only that, but the asset also broke out of a parallel channel pattern, where the price was oscillating between $0.148 and $0.1805 since February 2026.
Following these breakouts, XLM appears to have opened the door to further gains.
Based on the current price action, breakouts from the parallel channel and descending channel will only be confirmed if XLM closes a weekly and daily candle above the $0.1805 level.
If so, the asset could see its price increase by more than 15% and could reach the $0.212 level in the coming days.
However, if XLM price fails to close a daily or weekly candle above the $0.1805 level, it could fall back into the channel pattern and continue its sideways movement.
Despite the notable price rise, the relative strength index (RSI) stands at 65.27, below the key threshold of 70, indicating that XLM still has enough room to continue its bullish momentum in the coming days.
Now that the price has broken through the key resistance, the likelihood of XLM reaching the $0.22 level seems increasingly strong.
On-Chain and Derivatives Data Supports XLM’s Bullish Scenario
In addition to price action and expert predictions, blockchain analytics platform Chainspect showed that Stellar processed over 12,957,223 transactions on April 20, an increase of 2,891,644 from the 10,065,579 recorded on March 24.
This notable increase pushed XLM network transactions to a quarterly high and further solidified the asset’s bullish outlook.
Derivatives platform CoinGlass further reinforced this bullish outlook as intraday traders consider long leveraged positions.
Data from the XLM exchange liquidation chart shows traders are overleveraged at $0.1675 at the bottom and $0.1879 at the top.
In fact, at these levels, they have built $3.48M worth of long leveraged positions and $857.25K worth of short leveraged positions, indicating that the bulls are dominating the asset and anticipating further upside.
Final summary
- XLM surged 8.75%, overcoming major daily and weekly hurdles, with price action now eyeing a further 15% gain in the coming days.
- Increased network trading and growing trader interest in long leveraged positions have reinforced the asset’s bullish outlook.
