Stellar (XLM) Soars 20% in 24 Hours: Is There More Upside?
Stellar (XLM) has experienced a significant surge, gaining 20% in just 24 hours with a trading volume of $1 billion. This sudden breakout raises the question of whether there is more upside potential for XLM.
- XLM is currently trading at $0.16, showing a 66% increase over the past week and 107% in the last month.
XLM Price Breaks Out of Consolidation
Since mid-June 2023, XLM has gradually surged from its $0.093 support level, breaking out of a six-month consolidation phase. The bears created resistance at $0.193, causing a decline, but XLM rebounded from the support level of $0.12.
- The 50-day and 200-day exponential moving averages (EMA) provide strong support for the XLM price, indicating a bullish stance and potentially propelling the price higher.
- The crossover of XLM’s exponential moving averages reinforces the optimistic outlook, attracting investors to participate and drive the price upward.
- The Relative Strength Index (RSI) trades at 72, enabling the bulls to drive the price even higher.
Based on the analysis, the XLM price might surge, breaking the resistance level of $0.19 to reach a predicted price of $0.23. However, if the bulls cannot push the price up, there may be a downturn to $0.14.
Evil Pepe ($EVILPEPE): Challenging Meme Coin Dominance
Evil Pepe has recently launched its presale funding and aims to challenge the dominance of meme coins like PEPE in the market. Evil Pepe offers a rebellious nature and distinctive branding, attracting investors who may have missed the initial surge of the original PEPE.
- The presale launch of Evil Pepe marks the beginning of its journey towards potential viral success.
- Evil Pepe Coin plans to collaborate with influential meme-makers and alliances in the meme coin universe to expand its reach.
- If Evil Pepe manages to match the current market cap of PEPE, presale participants could see gains in the region of 300x.
SEC Chief Calls Crypto Markets “Wild West,” US Lawmakers Pressure SEC on Crypto Regulation
The SEC Chief has referred to the crypto markets as the “Wild West” and is seeking $109 million to help regulate them. US lawmakers are also putting pressure on the SEC to change its approach to crypto regulation.
Hot Take: Stellar’s surge and Evil Pepe’s entry into the meme coin market indicate the continued interest and potential for gains in the crypto space. However, regulatory concerns and the need for clear guidelines remain important factors to consider for the market’s long-term stability and growth.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.