Stellar Lumens (XLM) has regained momentum, reaching $0.213 after breaking through a key resistance level observed on daily charts. French technical analyst Egrag, known for his bullish perspectives on digital assets, highlighted this move as a potential start of a broader recovery for XLM. Egrag also stated an increase in personal holdings, signaling renewed confidence from seasoned traders as the price responded positively to crucial chart patterns.
Stellar approaches key double-top formation
Recent data from TradingView show that Stellar has successfully bounced from the lower Bollinger Band marked at $0.209. The current push above $0.213 puts XLM in a position to target the $0.22 resistance. If this level is maintained and surpassed, chart watchers anticipate a retest of the double top seen at $0.258.
Earlier in May, Stellar attempted to establish a top at $0.258 on two separate occasions before experiencing a decline toward a cycle low at $0.155 in August 2026. Since then, accumulation by large token holders, often termed “whales,” has been evident as XLM recovered to price ranges favoring bullish sentiment.
Market observers note that increased accumulation by significant investors typically occurs when prices are believed to be near a trend bottom. Recently, the Chaikin Money Flow (CMF) turned positive again, reflecting renewed capital inflows and supporting the overall recovery thesis.
Bullish signals and long-term targets
According to Egrag, XLM has managed to secure its position above the mid-range demand zone at $0.188. The analyst has defined ambitious price targets for the future, using the Fibonacci Circle methodology to identify potential breakout levels: $1.59, $2.25, and $3.72. A white ascending line on Egrag’s charts is said to indicate a prior major breakout, while $0.24 remains the pivotal threshold separating bullish and bearish dominance in the short term.
Spot market demand is expected to play a significant role in XLM’s next price moves, with market participants closely monitoring volume and accumulation trends for confirmation of further upside.
Egrag pointed to the Fibonacci Circles as a key tool in mapping these targets, noting that $0.24 will serve as the defining area where bulls and bears contend for dominance and that surpassing it could pave the way toward higher milestones in the months ahead.
Technical analysts and traders continue to focus on the formation of key reversal patterns, such as double tops and breakouts above crucial resistance levels. Monitoring larger investors’ activity, especially at points where key technical triggers align, remains a prominent strategy for those seeking to anticipate significant moves.
In this environment, the meme token market has also attracted attention. An example cited by Fomo App demonstrates the fast-paced nature of this sector: a $99 position in the token “Niu Lai” grew into nearly $370,000 in a matter of days. Fomo App offers a comprehensive platform enabling users to discover new meme tokens, track investor rankings, and receive trade notifications, emphasizing the value of not just price tracking but also carefully observing investment timing and token selection.
While broader sentiment around Stellar remains cautiously optimistic, both technical and social factors will continue to shape the trajectory of XLM in the volatile crypto market environment.
