In the past week, Stellar (XLM) has surged by approximately 11%, pushing its market capitalization to nearly $9 billion. This growth comes amidst increasing bullish sentiment, with recent technical indicators hinting at the possibility of another upward movement. Following a period of sideways trading, Stellar seems to be repositioning itself for a potential breakout.

Technical indicators such as the Relative Strength Index (RSI) and the Directional Movement Index (DMI) are reflecting a growing presence of buyers. Currently, Stellar's RSI stands at 63.42, a significant increase from 44.21 three days prior. This indicator has remained above 55 since yesterday, indicating a noticeable shift in momentum towards the bullish side. While this signals increased buying interest, it is important to note that the RSI has not surpassed the 70 threshold since early March, suggesting that although buyers are actively involved, the asset has not yet reached overbought conditions or extreme bullish momentum in nearly a month.

The RSI, a popular momentum oscillator, measures the speed and magnitude of recent price fluctuations to identify overbought or oversold states. On the RSI scale, values above 70 might indicate that an asset is overbought and due for a pullback, whereas readings below 30 suggest oversold conditions and possible recovery. Levels between 50 and 70 generally represent moderate bullish momentum, while figures within the 30 to 50 range point towards bearish tendencies.

Meanwhile, Stellar's DMI chart displays an ADX value of 30.63, up significantly from 16.2 just two days earlier. This substantial rise in the ADX implies that the prevailing trend is intensifying, affirming that the current price movement—be it upward or downward—is gathering strength. Additionally, the positive directional movement ( DI) line, which gauges bullish pressure, is at 21.77, down slightly from 24.5 yesterday, while the negative directional movement (-DI) line, representing bearish pressure, has decreased from 8.65 to 7.34. Despite the minor decline in buying power, the considerable gap between the DI and -DI lines still favors the bullish side, indicating that the existing trend remains upward, albeit with diminishing intensity.

The ADX, a part of the DMI system, quantifies the strength of a trend irrespective of its direction. Values below 20 usually denote a weak or absent trend, whereas readings above 25 suggest a strengthening trend, and those surpassing 30 confirm a robust one. Conversely, the DI and -DI lines assist in determining the trend's direction—the higher line signifies whether buyers ( DI) or sellers (-DI) are dominating.

With the ADX climbing above 30 and the DI comfortably surpassing the -DI, Stellar appears to be in a stable uptrend. Nevertheless, the recent dip in the DI could be an initial indication of waning momentum, making the coming days pivotal for verifying whether the bullish forces can maintain their dominance.

Furthermore, Stellar's Exponential Moving Average (EMA) lines are exhibiting signs of a probable spike, as short-term moving averages approach a crossover above long-term ones. Should this crossover occur, it will form a bullish \"golden cross\" pattern, typically regarded as a strong indicator for sustained upward movement. This technical configuration might enable Stellar's price to advance toward the $0.30 mark, with additional resistance levels anticipated around $0.349 and $0.375 if momentum accelerates. This scenario could potentially lead to a breakthrough above $0.40 in April.

The convergence of these EMAs suggests mounting bullish pressure, which, if validated by price behavior, might soon culminate in a breakout. However, if the anticipated golden cross does not take place and instead a downtrend emerges, Stellar may encounter support near $0.27. A breakdown beneath this support could trigger further declines to $0.25, and if selling pressure escalates, potentially as low as $0.22.

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