Stellar’s XLM price moved above $0.19 on September 18, extending a weekly gain of more than 6%.
The move places buyers in a stronger position, but the breakout was not yet confirmed when the latest four-hour chart was captured. XLM still needed to remain above $0.19 through the end of the trading period.
XLM price moves above a key barrier
XLM traded at approximately $0.1903 after gaining 2.46% during the current four-hour period. It briefly reached $0.1904.
It has pushed past the recovery barrier level of $0.19 it had, with plenty of time for the candle still to close.
In the event of closing above $0.19, it could be a sign that bulls have returned. The level, where XLM previously saw its bullish run lose favor, a test between $0.194 and $0.197, may approach.
After clearing that zone on the upper side, the buyers will attempt to overcome the psychological level of $0.20 and above, then it can rally towards the region of $0.21 and $0.22 as highlighted in the latest analysis.
At the time of the move, trading was up, although volume was less sharp than seen around September 15 and 16. Which leaves concerns over if there are enough trades to support a breakout for it to last.
Buyers have several layers of support
The wider chart still keeps things in a positive direction.
XLM was trading above four key average price lines, but most importantly, its recent average was above its longer-term ones.
What this means is that the coin’s latest prices were stronger than the trend. Usually, as long as price is above the lines, buyers are generally at an advantage.
The first support can be found at around the $0.1846 level. Beneath this level, all the remaining averages offer a broader support region between about $0.181 and $0.184.
If it falls through that zone, the recovery could become weak, and XLM will go back inside to its former level.
There has been no recent announcement from Stellar today. Its most recent official update was on September 14, when it introduced real-time pricing data for the network’s tokenized-asset market.
Final Summary
- XLM went above the $0.19 price level, but the four-hour candle was yet to close.
- If it holds the $0.19 level, it could bring $0.194–$0.20 into focus, with the $0.1846 level as support.
