Stellar (XLM) Eyes Bullish Reversal as SuperTrend Indicator Flashes First Signal Since 2022

Stellar (XLM) may be on the brink of a major trend reversal, as the SuperTrend indicator has flashed bullish for the first time since January 2022. According to crypto analyst Ali, this signal could mark the beginning of a macro shift after more than two years of sideways and bearish movement.

The SuperTrend indicator, widely used by traders for trend analysis and risk management, suggests that XLM could be preparing for a breakout. At the time of writing, XLM is trading at $0.248, down 2.38% over the past 24 hours, as the broader crypto market experienced renewed selling pressure. This decline follows a failed attempt to break through key resistance at $0.3022, which led to a steady pullback since March 26.

Despite the current dip, the emergence of this rare trend signal is sparking renewed interest in Stellar’s price action. A sustained move above the 50-day and 200-day moving averages at $0.289 and $0.285 could confirm a bullish trend, potentially targeting $0.374 and $0.514. However, failure to hold current levels might lead to a further drop, with strong support expected around $0.226.

While no single indicator can guarantee a trend reversal, the SuperTrend’s flash is a compelling reason for investors to keep a close watch on XLM. As market sentiment remains cautious amid macroeconomic uncertainty, Stellar’s next moves could determine whether this is a genuine breakout or another false start.

With technicals aligning and market attention shifting, Stellar (XLM) might be positioning itself for a long-awaited bullish comeback.