Stellar’s XLM cryptocurrency is again approaching a crucial support level at $0.23, which has historically prompted significant price increases. Currently priced at approximately $0.243, XLM shows signs of slight recovery as traders scrutinize patterns and technical indicators.

Attention is on whether the near $0.23 support will lead to another price surge similar to previous instances this year.

Price Returns to Key Support

Analyst Ali Martinez noted that XLM has rebounded from the $0.23 level three times this year, showing price increases of 33% in March, 48% in April, and a remarkable 133% in July following similar conditions. Market observers are closely watching for repeat behavior in the current trading period.

"$XLM has bounced 33%, 48%, and 133% the last three times it touched $0.23. Will it happen again?" — Ali (@ali_charts) Nov 23, 2025

Notably, the recent price action represents a testing phase after a prior decline from about $0.40. Although past trends hint at strong rebounds, a definite bounce confirmation is still pending.

Furthermore, Elite Crypto pointed out a new falling wedge pattern forming, akin to earlier in the year, which led to substantial price movement. The analyst believes a similar breakout could lead to a potential doubling of the current price level, although confirmation of such a breakout is awaited.

Technical Conditions Exhibit Weakness

On the daily charts, XLM currently trades beneath all essential exponential moving averages. The 20-day EMA is positioned at $0.26, indicating that prices must rise above these benchmarks for positive momentum to be established. With a Relative Strength Index (RSI) near 38, there are indications that while selling pressure is easing, a reversal hasn’t yet occurred.

Exchange Flow Indicates Minor Inflow

Recent data indicates a modest inflow of $685.85K into spot exchanges, marking the first surge in inflow after an extended period of outflows that began in mid-2025.

This inflow doesn’t conclusively signal a sentiment shift, suggesting traders may still be positioning themselves for immediate-term fluctuations.

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Source: Coinglass

Overall, while the prospect of a price rebound remains intriguing, a definitive trend reversal for XLM requires a stronger bullish signal above key price levels.