Stellar (XLM) is quietly showing one of its stronger recoveries in recent weeks. On the daily chart, the token has now recorded five straight days of gains after bouncing from a key Exponential Moving Average (EMA) support around $0.183. That reaction helped shift short-term momentum back in favor of buyers, putting higher price levels back on the bulls’ radar.
Support bounce changes the mood
The recovery started when XLM held its EMA support despite broader market uncertainty. Since then, buyers have remained active, pushing the token higher session after session. What stands out most is the consistency of the move. Instead of a sharp one-day spike, XLM has been grinding higher, suggesting demand is gradually building. This development has naturally turned attention toward the next major obstacle at $0.298.
Market activity is heating up
Zooming into on-chain metrics, the token’s Spot Volume Bubble Map data indicates overheating market conditions. In simple terms, buyers are taking full control of the market after a key successful reversal. If current buying pressure is sustained, the token’s rally is likely to continue in the short run. The momentum feels broad, not just tied to one exchange or group.
Retail traders are returning
Another notable trend is the increase in retail participation. Retail activity data shows a growing presence of many retail traders in both futures and spot markets. Retail-driven rallies can sometimes gain momentum quickly, especially when positive price action attracts additional buyers looking to join the trend. Something similar seems to be playing out in Stellar’s case. The growing market interest is helping reinforce the bullish sentiment surrounding XLM.
Can XLM reach $0.298?
For now, momentum remains with the bulls. The successful defense of the $0.183 support level, combined with rising market activity, gives buyers a strong foundation. If retail participation continues to increase and sentiment stays positive, the move toward $0.298 could become a realistic near-term target. The substantial unmitigated liquidity clusters worth $1.15 million at the $0.298 level further affirm the resistance as a key target for the network’s bulls. It’s not guaranteed, but the pieces are lining up.
