The post Stellar (XLM) Battles Key Support at $0.39 Despite Visa Partnership Boost appeared on BitcoinEthereumNews.com.

Peter Zhang
Aug 06, 2025 04:20

XLM trades at $0.39 (-4.48% today) testing critical support levels as bulls defend against bearish momentum despite recent Visa collaboration news.

Quick Take • XLM currently trading at $0.39 (-4.48% in 24h) • Stellar’s RSI at 47.67 signals neutral momentum with potential for reversal • Recent Visa partnership provides fundamental support amid technical weakness What’s Driving Stellar Price Today? The XLM price faces downward pressure today as the cryptocurrency tests its pivot point at $0.39, following yesterday’s broader market correction. Despite the 4.48% decline, Stellar maintains a position above the psychologically important $0.38 level that marked its low point during the recent pullback. The current price action reflects a continuation of the correction that began after XLM’s impressive 75% rally in July, which took the token from $0.23 to a peak of $0.51. This pullback has now extended to approximately 14% from recent highs, as traders take profits ahead of the upcoming Protocol 23 upgrade scheduled for August 14. However, the recent partnership announcement with Visa on August 5th has provided fundamental support for Stellar, helping XLM break out of a falling wedge pattern and maintain its position above $0.40 earlier this week. This collaboration represents a significant validation of Stellar’s payment infrastructure capabilities and could drive long-term adoption. XLM Technical Analysis: Mixed Signals Emerge The Stellar technical analysis reveals a complex picture with both bullish and bearish elements competing for control. XLM’s RSI currently sits at 47.67, positioned in neutral territory but showing potential for either direction depending on volume confirmation. The most concerning signal comes from Stellar’s MACD histogram at -0.0102, indicating bearish momentum is building. The MACD line at 0.0070 remains below the signal line at 0.0172, suggesting sellers are maintaining control in…

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Filed under: News - @ August 6, 2025 10:30 am