Stellar (XLM) Surges 30% in 10 Days, Breaking Downtrend

Stellar (XLM) has experienced a significant price surge, jumping by 30% over the past 10 days. This rally marks a notable shift from the previous downward trend that had been in place for weeks. XLM had been moving within a descending channel, characterized by lower highs and lower lows. However, this structure dramatically changed on July 8 when the price broke out of the channel with a strong bullish candle.

The chart illustrates this breakout clearly. After bouncing off the lower boundary near $0.22 in late June, XLM gradually climbed toward the upper resistance of the channel. It reached the upper line on July 7 and then surged through it the next day, with one of the largest daily candles XLM has seen in months. This breakout propelled the price from below $0.26 to nearly $0.30.

The current price is hovering around $0.29, but more importantly, the chart confirms that XLM has flipped the previous resistance into a potential new support level. If this momentum holds, Stellar could be entering a larger rally phase, especially with Bitcoin pushing new highs and pulling altcoins higher along with it.

Scopuly, a Stellar analyst, posted a detailed analysis of the XLM price action. According to Scopuly, Stellar has finally “broken free” after months of downtrend pressure. He pointed out that the rally started from the $0.22 level, which had acted as strong support for several weeks. Once that level held, the price reversed direction and began moving upward rapidly.

Scopuly explained that XLM has now cleared its dynamic resistance and is holding above its point of control. This is a critical detail because it shows that the bulls are not just reacting to Bitcoin’s pump but are actually stepping in at key technical zones. If the structure continues to hold, he believes the next major target for Stellar is $0.32. This level lines up with both the value area high and the 0.618 Fibonacci retracement level, giving it strong technical significance.

He also added that a short-term pullback would be healthy and might even help the rally gather strength. As long as the point of control remains intact, Scopuly sees a clear path to higher levels. In his words, if Stellar breaks through $0.32 with volume, “this could mark the beginning of a much bigger trend shift.”

Support is clearly visible at $0.22, which aligns with both the recent swing low and the value area low. That level held multiple times during the correction phase, so it is now seen as a base for the current rally. Above that, the next key area is $0.32. If the price gets there and breaks it, the move could extend even further, possibly toward new yearly highs.

With Bitcoin making fresh highs and altcoins waking up, the momentum around Stellar is worth paying attention to. The ongoing 30% pump is impressive on its own, but the bigger story might just be getting started. If Scopuly’s analysis holds true and the price continues to build support above the breakout level, $0.32 could be just the beginning.

Right now, Stellar has broken out of its downtrend, taken back control of its structure, and is attracting serious attention from both traders and analysts. If the broader market remains bullish, XLM may be gearing up for its next major leg up.