Stellar XLM Breakout Analysis – Parabolic Breakout on XLM with +103% gains in a Week

Stellar XLM is flipping on a 4-hour candle chart, XLM just went up over +103% from the past week. Let’s take a quick look at XLM, price analysis, and possible reasons for the recent breakout.

What is Stellar?

Stellar is an open platform for building financial products that connect people everywhere. Stellar blockchain enables near-instant payments, with almost zero fees, and a smart contract platform to create a digital asset economy.

Stellar Quick Stats

Global rank:12
Market cap:$4,906,911,142 AUD
Current price:$0.2327 AUD
All time high price:$1.28 AUD
1 day:+62.4%
7 day:+103.70%
1 year:+193.74%

Stellar Price Analysis

At the time of writing, XLM is ranked 12th cryptocurrency globally and the current price is $0.23 AUD. This is a +103% increase since 18 November 2020 (7 days ago) as shown in the chart below.

Source: TradingView

In the past week, there was a strong rise in Bitcoin, Ethereum, and Ripple. As a result, stellar (XLM) also formed strong support near $0.096 before starting a fresh increase against the AUD.


To start a strong increase, there was a break above a crucial contracting triangle with resistance near $0.0882 on the daily chart of the XLM/AUD. The pair gained pace above the $0.1250 and $0.1470 resistance levels.

Stellar (XLM)
Source: TradingView

The price gained pace above the $0.1700 level and the 100-day simple moving average. It even broke the $0.2000 level and traded to a new multi-month high at $0.2352. Stellar’s XLM price is currently correcting lower and trading below $0.2400 AUD.

More Upsides in XLM

If the XLM price remains elevated, there are chances of more upsides above $0.2300. The next key resistance is near the $0.2550 level, followed by $0.2400 AUD.

A clear break above the $0.2350 resistance level may perhaps open the doors for more gains above $0.2450. The next major hurdle for the bulls could be near the $0.2600 AUD level.

What do the technical indicators say?

The Stellar XLM TradingView indicators (on the 1 day) mainly indicate XLM as a buy, except the Oscillators which indicate XLM as a neutral.

So Why did XLM breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some of the recent events where the Stellar anchor Settle Network is issuing two new stablecoins, ARST and BRLT.

Recent Stellar News & Events:

15 October 2020Quarter in Review

20 October 2020Bitfinex Delisting

16 November 2020Meridian Conference

Where to Buy or Trade Stellar?

XLM has highest liquidity on Binance Exchange so that would help for trading XLM/USDT or XLM/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.


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