Star bulls aim for double-digit growth

• Stellar price is moving above $0.45 on Friday after gaining more than 32% so far this week.
• On-chain data paints a positive picture as XLM Open Interest and TVL rise.
• A daily close of the candle below $0.31 would invalidate the bullish thesis.

Stellar (XLM) is extending its gains, trading above $0.45 on Friday after rising more than 32% this week. On-chain data points to further growth as XLM’s Open Interest (OI) and Total Value Locked (TVL) increase. In addition, the technical outlook suggests a projection of continued growth of further 40% gains.

Stellar bulls are targeting a 40% rise.

Stellar price found support around the daily $0.31 level on Monday and recovered more than 27% over the next three days. At the time of writing on Friday, it was still trading 4% higher at around $0.45.

If XLM continues its uptrend, it would extend its rally by 40% to retest its November 24, 2024 high of $0.63.

The relative strength index (RSI) on the daily chart is at 60, above its neutral value of 50 and pointing upwards, indicating bullish momentum. The daily chart’s Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover on Tuesday. The MACD (blue line) crosses the signal line (orange line), giving buy signals and suggesting an uptrend.

XLM/USDT Daily Chart

Coinglass data shows that XLM futures Open Interest (OI) on exchanges rose from $126.86 million on Wednesday to $274.11 million on Friday, reaching the highest level since December 10, 2024. Increasing OI represents new or additional money which enters the market and new buying, which suggests further growth in the price of Stellar.

Stellar Open Interest chart. Source: Coinglass

Data from crypto intelligence tracker DefiLlam shows that XLM’s TVL rose from $44.95 million on Tuesday to $54.59 million on Friday and has been on a steady rise since the end of December 2024.

This increase in TVL indicates growing activity and interest within the Stellar ecosystem. It suggests more users are staking or using assets within XLM-based protocols, adding credence to the bullish outlook.

Stellar TVL chart. Source: DefiLlama

However, the bullish thesis would be invalidated if Stellar’s daily candle closes below $0.31; XLM would extend the decline to retest its next support level at $0.29, which is its 100-day exponential moving average (EMA).