XLM Holds Near $0.247 Support After Breaking Long-Term Descending Resistance

XLM is trading at a price of $0.2494 after losing 14.4 percent in the past week, near the mark of $0.247.

The chart indicates that there is a recent breakout of a long-term downwardly trending resistance line, which is similar to one observed in the past.

XLM is trading in a constrained range of $0.247-0.2599 that it is trading above an up-sloping short run trendline.

XLM traded in a tight range this week and its chart showed that it recently broke over a long-term downward sloping resistance line. The relocation was significant as the structure was similar to an earlier trend on the left side of the chart where a declining resistance break was followed by a steep increase. XLM is currently trading at $0.2494 and this represents a decrease of 14.4 percent in the last 7 days and the market is waiting to see the range between the level of support of 0.247 and the current resistance of 0.2599. This range shaped recent activity as the chart also displayed a rising short-term trendline beneath current price. These elements formed the backdrop for the latest movement as XLM held near the lower boundary of its range.

Key Structure Forms Around Major Resistance

The chart shows a long-term descending resistance line stretching across multiple swing highs. Price recently pushed above that line, which marked a notable development after several months of compression. The earlier structure on the left side of the chart also broke a descending resistance before advancing sharply

However, the latest price level remains near the breakout area as XLM trades close to $0.2494, which places it just above support. This positioning offers context for the current structure while market participants examine the similarity between both chart sections.

Price Declines While Holding Tight Range

XLM declined during the past week, and the move brought the price back toward the $0.247 support. Sellers kept pressure on the chart, which produced the 14.4% weekly decline. However, the market maintained a tight daily range that stretched from $0.247 to $0.2599

This range created a controlled environment for short-term action as XLM stayed above the rising lower trendline beneath the price. Furthermore, the daily candles stayed clustered around the breakout region, which kept the chart focused on the structure that formed near the long-term resistance line.

Market Focuses on Levels Near Breakout Zone

The area between $0.247 support and $0.2599 resistance remains central to short-term conditions. Price continues to interact with this zone while the chart shows the breakout above the descending resistance

This development added a reference point for observers tracking near-term market behavior. Additionally, the chart’s upward-sloping lower boundary created another important marker that aligned with the broader structure. These components now frame the next section of trading as XLM holds tightly to the range surrounding the breakout region.